Vale Base Metals to make dozens of job cuts in management cull
The move marks the first major overhaul since Shaun Usmar joined Vale Base Metals as CEO in October.
Vale’s base metals subsidiary will let go of dozens of managers to simplify its corporate structure and improve performance, according to people familiar with the matter.
The job cuts are part of an effort to simplify the Toronto-based firm’s organisation and extend greater decision-making power to operational teams, said one of the people, who declined to speak publicly on internal discussions. Vale Base Metals didn’t provide comment while email and phone calls to its parent weren’t immediately returned.
The move marks the first major overhaul since Shaun Usmar joined Vale Base Metals as CEO in October. The industry veteran came into the role with a goal of improving output and reining in costs at the company’s suite of nickel and copper assets in Canada, Brazil and Indonesia.
“We cannot spend our way to prosperity,” Usmar told shareholders Tuesday at Vale’s investor event in New York. “We have to be as lean and cost-oriented as possible in order for us to realize the potential.”
Vale Base Metals informed some staff as well as one of the unions representing workers at its Canadian nickel assets of a “managerial reorganization” this month, according to Raymond Hammond, vice-president of United Steelworkers Local 6500, which represents Vale mine workers in Ontario.
“We were informed there’s a managerial reorganisation that will involve layoffs at the senior level,” said Hammond, who added that members of the Steelworkers union aren’t affected.
Comments
Research Reports
Projects
Latest News
Showroom
Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...
VISIT SHOWROOM
Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
