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:: Vale Inco adds to Jobless Woes
March 3, 2009, is another black day in the employment history of the mining industry in Sudbury, ON. That was the day Vale Inco announced it was cutting 261 local jobs as part of its worldwide restructuring that will result in 900 terminations. At its Thompson, MB, operations, the company let 24 non-union supervisors go.
"Unfortunately the tough decisions announced today are necessary in these exceptional times" said Tito Martins, Vale Inco CEO and president, said in a news release. "The declining nickel price and reduced demand for nickel make it clear that continuing to operate in our current fashion is simply not sustainable. The measures we're announcing today are intended to address the immediate health of the business and help reshape the organization for a long-term, successful and sustainable future."
The announcement comes three weeks after the second largest miner in the area, Xstrata Nickel, announced the layoff of 686 workers. The combined cutbacks are a huge blow to the Sudbury community.
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