Rio Tinto’s London HQ / Almost half of jobs to be cut

Mining group Rio Tinto plans to almost halve the size of its London head office, according to an internal memo seen by Reuters, cutting more than 200 jobs as it tries to slash more than $5 billion in costs by the end of next year.

Rio has been reviewing high-cost office locations including London since last year, as it battles falling commodity prices.

The internal announcement said the company aimed to reduce the number of London-based jobs to 262 from 479. It also wants cut the number of Johannesburg employees to 206 from 244, after reviews of its African operations meant it needed fewer administrative posts in South Africa.

Chosen excerpts by Job Market Monitor

via Rio Tinto aims to cut almost half of jobs at London HQ | Reuters.