PT Inco may cut 500 jobs: Source
Tuesday, July 14 2009 - 05:27 AM WIB
IDX-listed nickel miner PT International Nickel Indonesia (Inco), plans to shed about 500 employees as the global slump forces the company?s biggest shareholder to pare costs back to a minimum, an Inco source said on Monday.
?The company has sent a letter to the Manpower Ministry proposing the layoffs,? the source, who declined to be named, as quoted by Jakarta Globe, said, adding that the plan was mainly due to the external situation faced by its main shareholder, Vale Inco.
The source added that a formal announcement of the layoffs was expected in the coming weeks.
Bambang Setiawan, the Energy and Mineral Resources Ministry?s director general of minerals, coal and geothermal energy when contacted by Petromindo.Com said that the ministry had yet to receive Inco?s report on the layoffs. (godang)