Mosaic Co. employees being furloughed with the temporary idling of two fertilizer plants in Louisiana will receive at least 70% of their pay in addition to all key insurance benefits, the company said Tuesday.
The idling, which starts Oct. 1, affects "north of 370" employees working at Mosaic's Uncle Sam and Faustina facilities straddling each side of the Mississippi River in St. James Parish, the company had said on Monday. The plants are being idled for the next three months to cut production and reduce an oversupply of agricultural fertilizer in the North American market. Rain in key U.S. farm markets have delayed the demand for fertilizer.
The insurance benefits include medical, dental, vision, company-provided life and long-term disability during the idle period.
Mosaic plans to keep a skeleton staff on hand at the plants to ready an eventual restart and to ensure contaminated acid water held inside a large gypsum pile at the Uncle Sam facility is safely managed through the shutdown.