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....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results