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BRIEF-Teck Resources says cutting 1000 jobs

Published 2015-11-17, 10:40 p/m
© Reuters.  BRIEF-Teck Resources says cutting 1000 jobs
TECK
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Nov 17 (Reuters) - Teck Resources TCKb.TO :
* Announces dividend, $650 million in cost reduction measures
* Says implementing additional measures to reduce costs and conserve capital
* Reduction in total spending of $650 million in 2016, to be achieved by $350
million of capital spending reductions and deferrals
* Eliminating additional 1,000 positions across teck's global offices and
operations, through combination of layoffs and attrition
* Will pay dividend of $0.05 per share on its outstanding class a common shares
and class b subordinate voting shares on December 30
* Says 2016 capital budget is still under review and Teck will announce
forecast 2016 capital spending in February 2016
* Withdrawal of coal mountain phase 2 project from the environmental assessment
process and suspension of further work on the project
* Suspension of cmo phase 2 means that mining will conclude at the existing
coal mountain operations in the fourth quarter of 2017

* Source text for Eikon ID:nMKWGFgVpa

* Further company coverage TCKb.TO

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