General Fusion has reportedly eliminated at least 25 per cent of its workforce on the heels of a major company accomplishment.
“On April 29, we achieved a transformative milestone at our Vancouver, B.C., headquarters in Canada — we successfully compressed a large-scale magnetized plasma with lithium using our world-first LM26 fusion demonstration machine,” CEO Greg Twinney said in a post on the company’s website.
“However, today’s funding landscape is more challenging than ever…as a result of unexpected and urgent financing constraints, we are taking action now to protect our future with our game-changing technology and IP — including reducing both the size of our team and LM26 operations — while we navigate this difficult environment.”
According to LinkedIn, General Fusion currently employs more than 100 people in Canada.
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If you’re fired or let go from General Fusion, understanding your legal rights is crucial.
Non-unionized employees in Canada are entitled to severance pay. The amount you’re owed is based on a variety of factors, including your role, tenure, age, and ability to find similar work.
WATCH: Employment lawyer Lior Samfiru delves into severance pay on an episode of the Employment Law Show.
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