Job cuts

A TOTAL of 14,000 jobs are going to be cut by the end of 2009 as part of a plan to reduce the 10 billion dollar debt of the world’s third largest mining company, Rio Tinto.

This company currently employs 97,000 people and plans to defer some of its spending on exploration as well as combine its two London offices.  Rio Tinto is listed in the UK and Australia and fought off a take over bid from its rival, BHP Billiton in November.