Codelco cuts executive staff by 15.6 pct as copper price falls
SANTIAGO, Sept 28 (Reuters) - The world's No.1 copper producer Codelco said on Monday that it was reducing the number of executives on its payroll by 15.6 percent, as the Chilean state-owned miner cuts costs in the face of tumbling prices for the industrial metal.
Codelco said the layoffs, which will take effect Nov. 1, will bring its managerial team to 255 people from a current 302. (Reporting by Anthony Esposito; Editing by Lisa Shumaker)
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