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Reuters: Rio Tinto to cut 14,000 jobs, slash spending

Started by chris, December 10, 2008, 01:59:17 PM

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chris

Rio Tinto to cut 14,000 jobs, slash spending
      


MELBOURNE/SYDNEY (Reuters) - Global miner Rio Tinto , saddled with nearly $40 billion in net debt, said it would cut 13 percent of its workforce, slash capital spending by more than half and sell more assets as it battles a collapse in commodity prices.<div class="feedflare">
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