Vale video describes financial status, hints at layoffs: USW – by Samantha Samson (CBC News Sudbury – August 15, 2017)

http://www.cbc.ca/news/canada/sudbury/

Mining giant says video is internally-used communication tool used to describe financial situation

Vale is hinting at future layoffs at their Sudbury operations, according to a United Steel Workers representative. Myles Sullivan, area coordinator for northeastern Ontario, told CBC News that he and representatives from Local 6500 and Local 2020 met with Vale to watch a video describing the company’s current situation.

Sullivan says Vale management wanted union reps to see the video before showing it to workers. “There’s a lot of pressure on the business locally,” says Sullivan. “They’re reviewing their operations, looking at where they can save and contain costs, and they’re very clear in the video that this could mean layoffs.”

Sullivan says the company’s bottom line has been affected by low nickel prices. Meanwhile, management is looking to make Sudbury operations self sustaining. “They have to make enough money not just to profit from their mines, but enough to re-invest and develop new mines and new ore bodies,” says Sullivan.

“They’re trying to save and reduce costs to improve profits where they can, so they can keep Sudbury sustainable.”

A spokesperson for the mining giant told CBC News that the video is an internal tool they create after quarterly financial results. The video is used to speak to employees about the current state of the business.

For the rest of this article: http://www.cbc.ca/news/canada/sudbury/vale-video-potential-layoffs-1.4247801

 

 

 

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