From Australian Mining:
An internal document leaked to Australian Mining this week showed Rio Tinto iron ore chief executive Andrew Harding had outlined a series of cost cutting requirements, including an immediate hiring freeze, which he said must be performed to maintain business success.
…The areas said to require urgent attention include:
- Cost-outs and capital reductions that are significantly below the existing plan;
- The renegotiation of significant service and supply contracts;
- Reflecting market conditions for employees and labour related costs;
- The extension of an immediate hiring freeze and review of organisational structures;
- Revamping of the way we schedule maintenance – by intervals and task times;
- A significant reduction in warehouse and stockpile inventories.
Harding stressed that “the whole business will be called to contribute to this work, with a degree of urgency”.
Everybody shout cost- oooooouuuuuuuut!
