This excerpt taken from the USU 8-K filed Sep 18, 2009.
Item 2.05 Costs Associated with Exit or Disposal Activities.
On August 4, 2009, the U.S. Department of Energy ("DOE") and USEC Inc. ("USEC" or the "Company") announced an agreement to delay a final review of the Company’s loan guarantee application for the American Centrifuge Plant in Piketon, Ohio until a series of specific technology and financial milestones have been met. Both DOE and USEC recognized that meeting those criteria would likely take six months or more. As a result, the Company initiated steps to demobilize the American Centrifuge project in order to preserve liquidity as the Company evaluates the strategic options for the future of the project. As part of this demobilization, on September 18, 2009, the Company provided notice that it would be terminating the employment of approximately 120 USEC employees involved in the American Centrifuge project. The Company expects that this workforce reduction will be substantially completed by September 23, 2009. This is in addition to the more than 750 jobs that have already been lost at the Company’s suppliers and contractors as part of the demobilization.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.