Vale Base Metals to Make Dozens of Job Cuts in Managers Cull
- Reorganization part of effort to simplify Vale’s subsidiary
- CEO Usmar told investors earlier in week of need to be ‘lean’
Shaun Usmar speaks during an investor day event in New York on Dec. 3.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Vale SA’s base metals subsidiary will let go of dozens of managers to simplify its corporate structure and improve performance, according to people familiar with the matter.
The job cuts are part of an effort to simplify the firm’s organization and extend greater decision-making power to operational teams, said one of the people, who declined to speak publicly on internal discussions.