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Adds details on measures and background throughout

Jan 8 (Reuters) - Utility firm NuScale Power SMR.N said on Monday it will lay off about 28% of its full-time employees as part of its cost-saving measures.

The cost-saving measures, which include the removal of 154 full-time employees, are expected to result in approximately $50 million-$60 million in annualized savings, NuScale said.

NuScale's small modular reactor (SMR) received design certification from the U.S. nuclear power regulator last year, the first such approval in the country for the technology.

Despite a promising start for its new nuclear technology, NuScale has faced cost and subscription issues and had to terminate one of its SMR projects in November, which was undertaken in partnership with a power company in Utah.

NuScale expects to register a charge of about $3 million related to severance costs in the first quarter.

Shares of NuScale were up 1.9% at $2.67 in premarket trade.

(Reporting by Tanay Dhumal in Bengaluru; Editing by Shilpi Majumdar and Krishna Chandra Eluri)

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