Rio Tinto Layoffs Job Cut: fires 14000 employees

The economic situation is worsening and all the sectors are affected by it. Now, the Australia Based Rio Tinto has decided to go for layoffs - around 14000 employees may be fired by the company.

How many employees will be fired in the Rio Tinto Layoffs
Around 14000 employees will see the job cut by Rio Tinto. This would be around 12.5 percent of the total employee headcount.

What are the businesses of Rio Tinto?
The company is the into the business of metals like iron ore and others.

What are the primary reasons for the Rio Tinto Layoffs?
The layoffs are said to be because of the worsening of the global markets. The company will also reduce capital investment as part of new measures to reduce its debt amid declining demand.

Which locations will be affected by the Rio Tinto Layoffs?
Around 300 jobs will go at its headquarters at Des Moines, Iowa, while another will be cut in 250 in 45 other locations.

When will the Rio Tinto Layoffs happen?
No info is available about the exact dates, but most probably it will happen in the first quarter of next year, which will mean a bad start to the new year for the affected employees.

Which segments will be affected in the Rio Tinto Layoffs
No information is available about which employee class would be affected by the layoffs.

How much savings can be made by the Rio Tinto Layoffs
Though there is no news specifically about the savings by employee job cut, but the reduction in operating expenditure are expected to save at least 2.5 billion Australian dollars ($1.6 billion) a year by 2010.

How many employees does Rio Tinto have in all?
The company has arouond 112,000 employees in total.

As per the news, Rio Tinto has offices in 40 countries, with most of its employees in Australia and North America, as well as significant operations in South America and southern Africa. It employs 97,000 people directly in addition to 15,000 contractors, or people on short-term contracts. The job cuts will mostly be on the contractor side, where 8,500 positions will be eliminated. The world's second-largest aluminum producer stressed it remains committed to its strategy of finding, developing and operating large, long life, low cost mining assets.
Let's hope that alternative jobs are available to the affected employees of Rio Tinto Layoffs Job Cut.