Tooele Transcript Bulletin – News in Tooele, Utah

January 22, 2013
More layoffs made at Clive facility

Thirty workers let go at EnergySolutions 

The number of people working at EnergySolutions’ Clive disposal facility declined again last week as the company continues efforts to reduce costs.

EnergySolutions laid off 30 people Friday, according to Mark Walker, vice president for marketing and media relationships. That leaves just over 100 employees at the company’s facility in the west desert, which permanently disposes of Class A low-level radioactive waste.

“The layoffs are the result of management’s continuing efforts to reduce costs through increased efficiencies and productivity,” said Walker. “Safety continues to be our number one priority, and has not and will not be affected by these reductions.”

This is the first lay-off at EnergySolutions since the company reduced its worldwide workforce by 265 workers last October.

Walker estimated that layoffs at Clive in October 2009 reduced employees there from nearly 200 to around 150.

Last week’s layoffs were unrelated to the recent announcement regarding the sale of EnergySolutions, according to Walker. EnergySolutions announced on Jan. 8 that it has entered into a purchase agreement with Energy Capital Partners, a New Jerseybased private equity firm.

The proposed buyout by ECP, at $3.75 per share, represents a payment of approximately 20 percent over the average closing share price of EnergySolutions’ common stock. That average closing share price was determined over a 30- day period that ended on Jan. 4, 2013, according to EnergySolutions officials.

ECP plans to operate EnergySolutions as a stand-alone business operation with the current management team remaining in place.

The acquisition is subject to regulatory approvals and approval by EnergySolutions stockholders. At the end of Dec. 2012 the county’s unemployment rate was 6 percent, according to the Utah Department of Workforce Services.

Tim Gillie

Staff Writer at Tooele Transcript Bulletin
Tim covers education, Tooele City government, business, real estate, politics and the state Legislature. He became a journalist after a long career as an executive with the Boy Scouts of America. Tim is a native of Washington state and a graduate of Central Washington University.

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