Teck announces job cuts and halts Coal Mountain expansion

On Nov. 17, Teck Resources Ltd. announced the “elimination” of 1000 jobs worldwide, across all of Teck’s global offices and operations.

On Nov. 17, Teck Resources Ltd. announced the “elimination” of 1000 jobs worldwide, across all of Teck’s global offices and operations.

The job eliminations are expected to happen through a series of layoffs and attrition. The reduction in jobs is expected to bring their labour force reductions to a total of 2000 positions over the past 18 months.

Teck also announced the suspension of any further work on the Coal Mountain Phase 2 project and from the environmental assessment process. The halt on the Coal Mountain project means mining could conclude at the current Coal Mountain Operation in two years. Teck said they plan to identify options between now and late 2017 to replace the 2.25 million tonnes of coal production that were planned from the expansion of the Coal Mountain Operation.

“We are implementing these additional measures to conserve capital, lower our operating costs and maintain financial flexibility in light of very difficult market conditions,” said Don Lindsay, Teck’s President and chief executive in a press release. “These steps build on our ongoing cost reduction program and I want to thank all employees for their efforts to improve efficiency and productivity, while remaining keenly focused on safety and sustainability.”

The international coal company announced dividends of five cents per share, which is lower than the earlier semi-annual payment of 15 cents per share.

Currently, it is unclear how many positions will be affected in the Elk Valley area. The layoffs and suspension of Phase 2 on Coal Mountain is in response to low commodity prices.

Teck also announced the intention to reduce total spending by $650 million in the next year, though a $350 million reduction of capital spending and deferrals along with $300 million of operating cost savings, which will be identified in the 2016 operating budget.

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A dose of COVID-19 vaccine is prepared at a vaccination clinic in Montreal’s Olympic Stadium on Tuesday, Feb. 23, 2021. THE CANADIAN PRESS/Paul Chiasson
39 new cases of COVID-19 in Interior Health region

The total number of cases in the region since the pandemic began is now at 7,334

The Site C Dam location is seen along the Peace River in Fort St. John, B.C., Tuesday, April 18, 2017. The cost of British Columbia’s Site C hydroelectric dam has grown to $16 billion and the completion has been moved up a year to 2025. THE CANADIAN PRESS/Jonathan Hayward
BC Liberal energy critic blasts ‘lack of transparency’ on Site C

MLA Tom Shypitka says Site C going ahead is a ‘good thing’, blames NDP for mismanagement

Volunteers from the Elk River Alliance cleared 14 car batteries from the Elk River near Elkford this week. (Photo contributed)
Elk River Alliance to move to more holistic environmental monitoring

The details of the ERA’s 2021 program will be discussed at the AGM next month

The Kitimat RCMP responded to false alarms, an apartment fire and more between Jan. 29 to Feb. 3, 2021. (Black Press Media File Photo)
Sparwood backs campaign to study Surrey RCMP impact

The City of Surrey is home to the largest RCMP detachment in the province

Brent Bidston is the president of Angel Flight East Kootenay. Black Press file photo.
RDEK ponders funding for Angel Flight East Kootenay

The district is considering funding for operations or to eventually help acquire a larger plane

A health worker holds a vial of AstraZeneca vaccine to be administered to members of the police at a COVID-19 vaccination center in Mainz, Germany, Thursday, Feb. 25, 2021. The federal state of Rhineland-Palatinate, start with the vaccination of police officers in internal police vaccination centers. (Andreas Arnold/dpa via AP)
B.C. officials to unveil new details of COVID vaccination plan Monday

Seniors and health-care workers who haven’t gotten their shot are next on the list

An investigation is underway after a man was shot and killed by Tofino RCMP in Opitsaht. (Black Press Media file photo)
Man shot and killed by RCMP near Tofino, police watchdog investigating

Investigation underway by Independent Investigations Office of British Columbia.

B.C. Supreme Court in Vancouver on Tuesday December 11, 2018. THE CANADIAN PRESS/Darryl Dyck
B.C.’s compromise on in-person worship at three churches called ‘absolutely unacceptable’

Would allow outdoor services of 25 or less by Langley, Abbotsford and Chilliwack churches

Baldy Mountain Resort was shut down on Saturday after a fatal workplace accident. (Baldy Mountain picture)
Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Jasmine and Gwen Donaldson are part of the CAT team working to reduce stigma for marginalized groups in Campbell River. Photo by Marc Kitteringham, Campbell River Mirror
Jasmine’s story: Stigma can be the hardest hurdle for those overcoming addiction

Recovering B.C. addict says welcome, connection and community key for rebuilding after drug habit

A Vancouver restaurant owner was found guilty of violating B.C.’s Human Rights Code by discriminating against customers on the basis of their race. (Pixabay)
Vancouver restaurant owner ordered to pay $4,000 to customers after racist remark

Referring to patrons as ‘you Arabs’ constitutes discrimination under B.C.’s Human Rights Code, ruling deems

Nanaimo children’s author and illustrator Lindsay Ford’s latest book is ‘Science Girl.’ (Photo courtesy Lindsay Ford)
B.C. children’s writer encourages girls to pursue the sciences in new book

Lindsay Ford is holding a virtual launch for latest book, ‘Science Girl’

Pig races at the 145th annual Chilliwack Fair on Aug. 12, 2017. Monday, March 1, 2021 is Pig Day. (Jenna Hauck/ Chilliwack Progress file)
Unofficial holidays: Here’s what people are celebrating for the week of Feb. 28 to March 6

Pig Day, Canadian Bacon Day and Grammar Day are all coming up this week

Most Read