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November 26, 2012
17:53 EDTNEPTNeptune Technologies to layoff 70 employees temporarily
Neptune plans to retain approximately 30 of its Sherbrooke employees, 10 full-time and 20 part-time, employed to work on the reconstruction of an operational production facility. Neptune will temporarily layoff over 70 employees in Sherbrooke and at its Laval head office. The duration of the layoff has not been determined and is dependent on Neptune's ability to resume production at a new operational production facility. Senior management and employees of Neptune will be taking salary reductions of at least 20% for an interim period during plan implementation. These salary reductions may be paid in full or in part at a later date upon, among other things, a successful implementation of the plan and improved financial results of Neptune. Neptune expects the decrease of its workforce and reductions in salary to save approximately 45% of its labor costs while such measures are in place.
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February 20, 2015
07:34 EDTNEPTNeptune , NeuroBioPharm receive final court approval, completes arrangement
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