NuScale Power, among the best-known companies developing small modular reactor (SMR) technology, said it would cut 28% of its workforce as the company looks to save $50 million to $60 million annually.
Rumors of job cuts surfaced last week with online news service HuffPost reporting employees were told of the restructuring plan at a meeting on Jan. 5. NuScale confirmed the layoffs in a Jan. 8 news release.
The company was dealt a major blow to its operations with the November cancellation of a flagship project the group had planned with Utah Associated Municipal Power Systems (UAMPS). NuScale, founded in 2007, is the only U.S.-based SMR maker with U.S. Nuclear Regulatory Commission (NRC) approval for its technology.
