"NuScale Faces Turbulence with 40% Workforce Reduction Amid Nuclear Sector Challenges"
NuScale Power, a Portland-based nuclear energy company specializing in small modular reactors, is reportedly laying off up to 40% of its workforce, potentially affecting over 200 employees. Despite receiving government approvals and federal funding, NuScale has faced challenges in securing practical utility contracts for its reactors, leading to a significant drop in its stock price. The company's financial reserves have also decreased, and the layoffs come at a time when Oregon's unemployment rate is notably low. NuScale went public through a SPAC merger, which allowed it to bypass some traditional investor scrutiny.