Precarity has often been considered a hallmark of waste-picking, a survival activity whose practitioners are exposed to health risks, exploitation and fluctuating commodity markets. Adopting a three-dimensional approach to precarity that centres on 'exposure to danger', 'uncertain tenure' and 'dependence', this paper compares Uruguayan waste-pickers' (clasificadores) experiences of precarity at the Felipe Cardoso landfill, its related cooperative, and a formal sector recycling plant. Clasificadores at Felipe Cardoso characterise the landfill as a 'mother' who dependably provides them with food, clothes and construction materials. Recently, the Uruguayan state has sought to divert clasificadores to what is regarded as more dignified labour in recycling plants. I argue that the formalisation of some waste-pickers creates a cleavage within the occupation, dispossessing and delegitimising those who continue to work 'informally'.