“The world’s biggest miners are hemorrhaging jobs as the price for almost everything they dig up–from gold to aluminum to copper–slides relentlessly downward.  Staff cuts are among the measures miners are taking to lower their costs amid a historic downturn in commodity prices driven by China’s abrupt economic slowdown. Anglo and other big miners such as Rio Tinto PLC have also moved to restructure organizations that had grown quickly when China was gobbling up commodities. The moves come as oil companies and their service contractors shed tens of thousands of jobs and are moving to reshape their operations for what could be a long period of lowered commodity prices.”

http://www.nasdaq.com/article/miners-shed-thousands-of-jobs-as-commodities-prices-slide-20150724-00296

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