Mosaic Cuts Jobs in Canada

Mosaic says it will temporarily lay off 1,000 employees at its Saskatchewan potash mines, due to decreased demand. Jobs may be reinstated as market conditions improve, Mosaic says. Job cuts will begin on March 8 at Mosaic’s Colonsay site and on February 15 at its Esterhazy facility. The move comes a few days after Mosaic reported a 140% earnings increase for its fiscal second-quarter ended November 30, 2008 (CW, Jan. 12, p. 12). The company also said it cut phosphate production by 1 million m.t. due to softening market conditions, and that it plans to cut...

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