(Trail Times file photo)

No layoffs at Teck Trail, says spokesperson

Reduction targets met by attrition, expiry of temp positions, and deferring of job vacancies

The Trail smelter workforce will see little change in the latest trimming of jobs announced at company headquarters last week.

On Thursday, Teck Resources said it would be cutting 500 full-time jobs from its roster of around 10,000 employees, and deferring spending by roughly $500 million in 2020.

“We do not anticipate any layoffs at Trail Operations,” Teck Trail spokesperson Carol Vanelli Worosz told the Trail Times on Monday.

“At Trail Operations, we review our costs and efficiencies on a routine basis, including employee levels.

“While there will be a modest reduction in employee levels at Trail Operations, we do not anticipate significant changes at this time,” Vanelli Worosz said.

“Any reductions will likely be achieved through a combination of retirements and attrition, the expiry of temporary positions, and deferring filling a number of current job vacancies.”

Previous: MLA anticipates further job loss in resource sector

Previous: Slowing market has Teck closing Pend Oreille mine

The Vancouver-based miner said it wants to improve efficiency and productivity after reporting its third-quarter profit attributable to shareholders fell to $369 million, down from earnings of $1.28 billion in the same quarter last year.

“While our financial position is strong, in light of uncertain economic conditions, Teck has implemented a company-wide cost reduction program,” Vanelli Worosz continued. “To reduce our operating costs, and planned capital spending for the balance of 2019 and 2020, targeting reductions of approximately $500 million from previously planned spending through the end of 2020.”

The company said in a regulatory filing earlier this year it had about 10,000 full-time “regular” employees as of the end of 2018, with about 4,400 in coal operations, 2,500 in copper and 2,200 in its zinc mining sector.

For 2020, the company plans to trim a further $330 million in spending, including $130 million from its capital plans.

“While our financial position remains strong, we have implemented a company-wide cost reduction program with reduced spending,” said Teck CEO Don Lindsay on a conference call.

“Over the past few years, we have been focused on maximizing production to capture margins during periods of higher commodity prices,” Lindsay said on the call.

“However, current global economic uncertainties are having a significant negative effect on the prices of our products, particularly steelmaking coal.”

Lindsay said Teck’s operations in Chile have not been affected so far by protests sparked by public transportation price hikes which have resulted in several deaths.

He said about 5,000 people are working on construction of its Quebrada Blanca Phase 2 mining project there and funding will continue because it is a key component of future growth.

The company’s Neptune Bulk Terminals expansion in Vancouver is also a “priority project” that will continue to attract funding.

~ With files from Canadian Press



newsroom@trailtimes.ca

Like us on Facebook and follow us on Twitter

Just Posted

Jumbo saga reaches finale

A three-decade long disagreement comes to a close.

Province looking at steps to dissolve Jumbo resort municipality

Disincorporating municipality will likely require a legislative change, according to the province

Almost 20,000 parking tickets issued by Interior Health at hospitals in 2019

In 2018, pay parking in Interior Health hospitals totalled $5.3 million of their $2.2-billion budget

Ktunaxa, supporters celebrate protection of Qat’muk and the Jumbo valley

Speeches, acknowledgements and ceremonies mark an emotional gathering in Cranbrook

Former Waterside property to be rezoned?

Invermere residents supported rezoning Waterside property.

Officials reaching out to those in contact with Canada’s first coronavirus patient

The illness has sickened at least 1,975 people and killed 56 in China

Canada’s basketball community mourns Kobe Bryant after helicopter crash

Bryant was an 18-time NBA all-star who won five championships

‘Devastated’: Fans, celebrities remember Kobe Bryant after his death

Bryant played all of his 20-year career with the NBA with the Los Angeles Lakers

Kobe Bryant, daughter killed in California helicopter crash

Bryant entered the NBA draft straight out of high school in 1996

Investigation launched after six dead puppies dumped in Richmond hotel parking lot

RAPS reminds people they can always give up puppies they can’t take care of

Canadian Lunar New Year celebrations dampened by coronavirus worries

But Health Minister Patty Hajdu said today that the risk of infection is low

B.C. VIEWS: New coronavirus outbreak an important reminder

Walking the line between cautious and alarmist

Risk of coronavirus low in B.C. as first case emerges in Toronto: officials

There have been no confirmed cases of the virus in B.C.

Most Read