Boart Longyear has informed more North Bay employees of temporary layoffs which were initially announced back in late April.
With rising concerns regarding the COVID-19 pandemic, the Boart Longyear implemented its business continuity plan in early March.
"Impacts from COVID-19 on the Boart Longyear operations increased through March with exploration activities declining, impacted by government-imposed closures along with customers choosing to delay projects," the company stated in a release.
"Boart Longyear continues to work closely with our customers to continue operations where possible while ensuring we protect our people and the communities in which they work. At this point in time, Boart Longyear has no confirmed cases of COVID-19 of any of its employees at any of its drilling operations, manufacturing facilities and administrative offices.
Boart Longyear stated that they have further responded to the current environment by reducing all non-essential operating and capital expenditures.
"For Boart Longyear’s personnel in the North Bay area, these actions resulted in 17 employees being temporarily laid off on April 30 and an additional 24 employees being notified of a temporary layoff scheduled for mid-May, bringing the total to 41 employees affected in our North Bay facilities," the release stated.
"As part of these cost reduction measures, the Board, CEO and all Group Executives have elected to temporarily reduce their cash remuneration by 75-100 per cent collectively. Effective from 6 April 2020, the Company has temporarily moved into a partial or full stand-down of the workforce in most parts of the business, including significant but temporary reductions to compensation. We will be matching our workforce to the activity in each of our business units with a view to continue to provide quality support to our customers."
Boart Longyear notes that it is unclear of the duration of the impacts of COVID-19 on the industry and ultimately our operations.
"The steps taken to date by the executive team have been measured to ensure that Boart Longyear will be in a position to continue to support the Mining industry when it returns to its normal operating levels," the release continued.
Established in 1890, Boart Longyear describes itself as the world’s leading provider of drilling services, drilling equipment and performance tooling for mining and drilling companies.
Boart Longyear's head office is located in Salt Lake City, Utah.
