SANTIAGO, Jan 27 (Reuters) - Chile’s Escondida, the world’s biggest copper mine, will implement a new round of personnel cuts, equal to 2.4 percent of its current workforce as prices for the red metal continue to linger near multi-year lows.
“Escondida is putting in place a plan to reduce the number of employees by 2.4 percent, which is equivalent to around 90 roles,” a spokesman for Escondida’s controller, global miner BHP Billiton , told Reuters.
“That was in response to the continued deterioration of the copper market, which has seen prices drop more than 30 percent over the last 12 months,” the spokesman added.
In February 2015, Escondida said it had begun a voluntary redundancy program for its workforce as part of an ongoing plan to improve productivity and cut costs. (Reporting by Anthony Esposito)