Potash Corp. of Saskatchewan is cutting its workforce by about 18 per cent, affecting 1,045 people — with the biggest hits in its home province of Saskatchewan, as well as New Brunswick and Florida.
The cuts come amid lower prices for potash after Russian-based Uralkali, one of the world’s largest potash producers, quit the Belarusian Potash Company export partnership.
In expectation of lower prices on the world markets, China and India — key markets for fertilizer — delayed purchases, sending shipments plunging.