Deteriorating metals prices force Kennecott to reduce employee headcount
March 3, 2016
South Jordan, Utah – As part of ongoing cost reductions amidst the continued commodity market decline and weak commodity prices, today Rio Tinto Kennecott has reduced its employee headcount. These reductions impacted all areas of the business, which include salaried and hourly employees. Kennecott is offering severance packages and employee assistance to those whose roles were eliminated.
“We know these decisions have personal consequences for the people involved and their families as well as the employees who remain, and we are committed to helping everyone manage through this difficult transition,” said Nigel Steward, managing director, Rio Tinto Kennecott. “These changes are necessary to ensure our business stays strong, to preserve our future and to continue contributing to the state’s economy during this challenging time in our industry.”
Rio Tinto Kennecott employs 1,620 people.
More information is available at www.riotintokennecott.com.
About Rio Tinto Kennecott
As one of the largest copper producers in the United States, Rio Tinto Kennecott comprises nearly 7 percent of U.S. copper production. Kennecott’s Bingham Canyon Mine is one of the top producing copper mines in the world with production at more than 19 million tons. Rio Tinto purchased Kennecott and related facilities in 1989 and has invested more than $2 billion in modernization since that time. Kennecott has also spent more than $350 million on the cleanup of historic mining waste and $100 million on groundwater cleanup. Take a closer look at riotintokennecott.com.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the United Kingdom, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminum, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and Southern Africa. www.riotinto.com