General Fusion cuts 25% of staff following ‘transformative’ April milestone
What’s going on at General Fusion?
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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About the Author
Lior Samfiru
Lior Samfiru is a Founding Partner at Samfiru Tumarkin LLP and the Practice Leader of the firm’s Labour & Employment Law Group. Known for his advocacy and success representing both employees and employers, Lior exclusively serves clients in Ontario, where his extensive experience has made him one of Canada’s most sought-after employment lawyers.
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