Nearly 75 percent of those laid off on June 16 worked at the Lynchpin Industrial Park in Lynchburg, Virginia, and the Center for Advanced Engineering and Research in Forest, Virginia, according to The News & Advance. Fifty other employees were placed in other B&W business units and an extended WARN notice for 90 employees was approved through the end of July. Those jobs are subject to negotiations with the U.S. Department of Energy, which was funding a cost-sharing program with mPower; and the Tennessee Valley Authority, for which mPower was building the SMRs.
Generation mPower’s operating income was $81 million in 2013. By third quarter 2014, it will be down to $15 million a year, the article said.
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