The Royal Canadian Mint has temporarily laid off 56 employees at its Winnipeg facility, which produces circulation coins for Canada and dozens of other countries worldwide.
“The prolonged effects of the pandemic and ongoing geopolitical instability continue to disrupt global markets, limiting the volume of foreign circulation coin contracts,” according to an email from the Mint published by CTV News Winnipeg on Feb. 11. “We believe this disruption is temporary and expect our foreign circulation business to return as global markets reopen.”
The Mint issued the temporary layoff notices to its affected employees, who will be offered transitional support, on Feb. 9.
The Mint opened its Winnipeg facility in April 1976, marking the first fully automated currency-making system in North America. “Every single Canadian circulation coin is produced here – literally billions each year,” reads the Mint website, which adds the nearly 15,000-square-metre facility strikes circulation coins for 70 other nations.
The Mint’s other facility – in Ottawa – produces numismatic coins, gold and silver bullion plus Canadian medals and medallions.