Company says it will provide benefits, partial pay for furloughed workers while St. James facilities sit idle
UPDATE: Mosaic says it plans to pay affected employees at least 70 percent of their pay in addition to providing all key insurance benefits.
The company says it will also pay the employee’s portion of those benefit premiums and pay vacation out to help address short-term income issues.
A small group of employees will remain on site full time to help manage routine activities during the idle period.
ST. JAMES PARISH - Two plants located in St. James Parish will go idle soon, leaving hundreds of workers' futures in question.
A news release from the Mosaic Co. said it would idle operations in St. James Parish starting Oct. 1 as it plans to initiate $250 million in share repurchases.
"There will be no layoffs. Everyone will be retained but not everyone will be reporting to work," a spokesperson said of the 376 current employees.
"We’re currently working to finalize plans for employees. Even in an idle state, the facility will require a number of employees for on-going maintenance and to continue to meet our regulatory obligations. We are committed to having a definitive plan for every employee by Thursday."