PotashCorp slows production as demand slumps
Company lays off workers in Saskatchewan, New Brunswick
PotashCorp is temporarily laying off workers at mines in Saskatchewan and New Brunswick because of a slump in demand.
The Saskatoon-based company says its Allan mine in Saskatchewan will not operate between Dec. 16 and Feb. 9.
Another mine, in Sussex, New Brunswick, is also shutting down for eight weeks between Dec. 30 and Feb. 23.
The latest moves come on the heals of an announcement in October that PotashCorp will shut its Lanigan and Rocanville mines in Saskatchewan for eight-weeks starting Nov. 18 and Dec. 7 respectively.
The fertilizer producer noted a month ago that its third-quarter profit fell 22 per cent from a year ago.
However, chief executive Bill Doyle said at the time that he expects demand to pick up next year.