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NuScale Power to Lay Off 154 Employees, Aiming to Save $60 Million After Project Cancellation

NuScale Power, a leading small modular reactor (SMR) technology company, has announced it will cut 28% of its workforce in an effort to save $50 million to $60 million annually. The layoffs were confirmed in a news release following the cancellation of a project the company had planned with Utah Associated Municipal Power Systems (UAMPS). NuScale, founded in 2007, is the only U.S.-based SMR maker with NRC approval for its technology. The company’s president and CEO, John Hopkins, stated that commercialization of its SMR technology is the company’s priority. The restructuring includes cutting 154 full-time employees and focusing resources on key strategic areas to aid growth and strengthen its position in the SMR market.

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