(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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

$30,000 over 30 weeks for local causes

Send us your good stories and you could win money for your favourite cause

Golden’s pool to not open for 2020 season due to COVID

The tough decision was made on June 2 after council was presented with a variety of scenarios

Golden to host “Unity for the People” march in solidarity with George Floyd protests

The march will seek to educate the community on local and national injustices.

No active confirmed COVID-19 cases in Interior Health: BCCDC

Numbers from the BCCDC’s dashboard show 193 of the 195 COVID-19 cases in the region have recovered

Golden weddings still happening, despite COVID

While the weddings tend to be smaller, Julia Cundliffe says the commitment is still real

‘I’m pissed, I’m outraged’: Federal minister calls out police violence against Indigenous people

Indigenous Minister Marc Miller spoke on recent incidents, including fatal shooting of a B.C. woman

Kelowna Mountie who punched suspect identified, condemned by sister

‘How did he get away with this? How is this justifiable?’

Vernon protesters take Black Lives Matter movement to park

A handful of demonstrators raised fists, signs in solidarity Friday

Police watchdog investigating Lake Country incident

A man was taken to hospital after the June 3 incident

Community backlash over Black Lives Matter rally in Kelowna

Some members of Kelowna’s black community stated they don’t support Friday’s rally

PHOTOS: Anti-racism protesters gather in communities across B.C.

More protests are expected through the weekend

Pair accused of ‘horrific’ assault at Vancouver’s Oppenheimer Park at large

Police say Jason Tapp, 30, and Nicole Edwards, 33, did not show up to meet their bail supervisor this week

Bear strolls into Okangan homeowner’s living room

Conservation officers are searching for the bear, which entered a home in the Foothills area

Most Read