Over 300 workers of the Troy Resources Gold Mining company have been laid off as the Australian company continues to face financial problems with its operations in Guyana.
The workers were informed yesterday that a decision was made by the Board of the company on Sunday to lay them off.
The company is hoping to rehire many of the workers when it begins operations at another interior mining location.
In a memo to staff members, CEO Ken Nillson said “the Board has thus decided that all personnel currently stood down will be terminated as from this week. This decision was made with reluctance and will nevertheless assist employees by providing a termination pay out. It is expected that Troy will go back to re hiring employees as needed for a start up in the near future and Troy hopes most current employees will be available and willing to return to work”.
Just last week, the CEO of the company expressed worry that it had been operating at a loss for a long time and needed major financial injection as it continued its operations in Guyana.
The company faced a temporary closure in its operations following the death of a young geologist during a mining pit cave-in at one of its mining sites.
The government had issued a temporary cease work order just after that mining death and the company was upset with that move since it claimed it affected all of the company’s operations and not just the area where the mining tragedy occurred. The cease work order was recalled within days but the company never recalled those workers it had asked to stand down from duty.
Although it has now laid off over 300 workers, more than 100 workers will remain employed continuing the company’s operations on a smaller scale.