Shutdown is temporary says Nutrien.
Nutrien is temporarily shutting down their biggest potash mine amid the ongoing CN Rail strike.
Here’s what Nutrien CEO Chuck Magro said in a statement:
“It is extremely disappointing that in a year when the agricultural sector has been severely impacted by poor weather and trade disputes, the CN strike will add further hardship to the Canadian agriculture industry. Any further disruption will be harmful to our business, the Canadian economy, and Canada’s competitive position and reputation as a reliable supplier of fertilizer and food. However, most concerning is the impact on our hundreds of employees for whom this creates great uncertainty and hardship leading up to the holiday season.”
The shutdown will begin next week, starting on December 2nd.
550 employees will be laid off according to reports.
The ongoing CN Rail strike will only add to Canada’s faltering image as a possible investment destination. With taxes rising, investment moving to the U.S., consumers increasingly struggling with low wages and a rising debt burden, and immense regional division, Canada looks less and less like a place where businesses can succeed.
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