"This will potentially involve a significant reduction of approximately 75 percent of the employee complement, which currently comprises more than 800 people," the PBMR company said.
The restructuring had been contemplated as a results of its cash flow position.
"The Board of Directors are contemplating a large-scale restructuring of the company in an attempt to reduce costs and extend the operational life of the company."
The PBMR company said the decision had been informed primarily by the recognition that the resources available to the company would not sustain the current cost structure.
"The restructuring process will be facilitated by a representative of the Commission for Conciliation, Mediation and Arbitration (CCMA).
"The near- and medium-term future of the company depends largely on the outcome of discussions with existing and future investors/stakeholders to determine their conditions for further investments."
The company said its board was committed to a fair and transparent process that was respectful of the commitment and achievements of all PBMR employees.
"All efforts will therefore be made to identify opportunities for PBMR employees who are displaced.
"Management is in discussions with industry players to assess their ability to employ affected people."
The PBMR company is a public-private partnership comprising the South African government, nuclear industry players and utilities.
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