Falconbridge offers early retirement

Nickel producer Falconbridge has instituted an early retirement program which will likely result in a staff reduction of 200-300 by the beginning of next year.

In Sudbury, where Falconbridge will be adjusting its mining methods to exploit the high-grade Craig mine, 135 employees have accepted early retirement while 16 have quit, said Falconbridge President Frank Pickard. Further staff cuts will be spread throughout Falconbridge’s corporate and exploration offices. At the Kidd Creek operations near Timmins, Ont., regular attrition is expected to reduce the 2,422-strong staff to about 2,400. Pickard said he does not expect to see layoffs at any of the company’s operations.

Falconbridge’s earnings fell by 40% in 1990 as a result of lower metal prices and higher depreciation charges. At Sudbury, where a contract with the union expires Aug. 21, 1991, costs were 7% higher than anticipated.

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