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News Breaks | | | | September 10, 2012 | | 06:05 EDT |  | XSRAY | Xstrata Coal to cut approximately 600 employees
As part of an ongoing review of its business in Australia, Xstrata Coal is undertaking a planned restructuring to respond to industry-wide pressures including low coal prices, high input costs and a strong Australian dollar against the U.S. dollar.Following this review, and in keeping with the cost savings objectives announced at its half-year earnings, it will be reducing our employee numbers by approximately 600. The reductions involve both contractors and permanent positions. The restructure is focused on scaling back high cost production at some of its mines. It does not expect a material impact on Australian production volumes. It is also reducing some roles at our corporate headquarters in Sydney and consolidating its office-based operations in Queensland. Approved growth projects, such as Ravensworth North, Ulan West and the expansion at Rolleston, are proceeding as planned. | |
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| May 14, 2013 | | 07:29 EDT |  | XSRAY | BofA/Merrill to host a conference
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