Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Mining / Quarrying
Mining And Quarrying
Other Mining And Quarrying
08 - Other mining and quarrying

14,000 jobs
Number of planned job losses
Job loss
Announcement Date
11 December 2008
Employment effect (start)
Foreseen end date
31 December 2010

Description

Rio Tinto, one of the world´s leading mining and exploration companies, is to cut 14,000 jobs across the world.  8,500 contractor jobs and 5,500 employee positions will be cut in order to reduce operation costs by at least USD 2.5 billion per annum by the end of 2010. Severance pay costs will amount to USD 400 million. Rio Tinto employs about 112,000 people worldwide.


Sources

  • 11 December 2008: Hospodárske noviny

Citation

Eurofound (2008), Rio Tinto, Internal restructuring in World, factsheet number 67640, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67640.