Vale lays off 1,300 workers; 5,500 must take paid leave
Dec 03, 2008 | 11:47 AM
| Mick Bowen
Brazilian miner Vale has laid off 1,300 workers and required that another 5,500 workers take paid leave starting this week, a spokeswoman said, confirming press reports.
"Given the lower demand from steelmakers, Vale is working to avoid layoffs and lay off as few people as possible," the spokeswoman said, adding that 20 percent of the fired workers and 80 percent of the workers put on paid....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here