Rio Tinto moves to cut more jobs and sell assets

MINING giant Rio Tinto is moving ahead with plans to reduce staff and sell assets amid efforts to reduce operating costs by $US5 billion over the next two years.

Chief executive Sam Walsh addressed an annual general meeting in Sydney today, and says two-thirds of the reductions are focused on Rio's aluminium and energy businesses.

Mr Walsh recently took over from Tom Albanese, who stepped down in January after the company announced its first loss under its current corporate structure.

Speaking after the AGM, Mr Walsh said job cuts would be applied across the entire business in an attempt to cut costs.

"Even in our head office in London, we're looking there to significantly reduce our cost base and significantly reduce numbers," he said.

Read more at ABC news online.


Local beer and American-style food at chef's event

Local beer and American-style food at chef's event

Ballina RSL is set to host one of its popular Blake's Table events

Coles extends free bag offer

Coles extends free bag offer

“Our customers are telling us they need more time...''

PHOTOS: Ballina celebrates our 'deadly' women

PHOTOS: Ballina celebrates our 'deadly' women

"Because of her, we can” was a fitting theme for this celebration

Local Partners