NewsWhore
12-05-2008, 05:40 PM
After weeks of uncertainty the Falconbridge mining company has announced that it will lay off 900 of its 1,640 employees, most of whom live in Bonao. Falconbridge temporarily closed its doors in August and the closure was declared indefinite in November. The announcement has plunged company employees into uncertainty. Although some were still receiving wages, yesterday's announcement will certainly have serious repercussions on the surrounding areas that depend on a company with a monthly payroll of US$2.6 million. According to economist Rafael Paulino, for every person working at Falconbridge four will be affected. Paulino also warns of a possible devaluation of the dollar due to the reduced revenue from Falconbridge.
Ernst Mas, who made the announcement on behalf of the company at Club Falcondo, said that employees would receive their severance pay. This is likely to bring a short-term bonanza to Bonao this Christmas.
Workers are also concerned that the Bonao Educational Center, where many employees' children go to school, could also close down.
According to Falconbridge's public relations officer Luis Rosado, the company's decision came as a result of an increase in its operational costs, adding that the drop in fuel prices hasn't been enough to balance out the high cost of mining. Rosado said however that the company would continue to employ 740 people and that the closure would not be permanent thanks to a cash reserve it has been developing for 20 years. The most difficult aspect of this decision is the timing, in the run-up to the holiday season. Although officials had asked for the announcement to be delayed until after the holidays Rosado said it had not been possible to do so.
More... (http://www.dr1.com/index.html#11)
Ernst Mas, who made the announcement on behalf of the company at Club Falcondo, said that employees would receive their severance pay. This is likely to bring a short-term bonanza to Bonao this Christmas.
Workers are also concerned that the Bonao Educational Center, where many employees' children go to school, could also close down.
According to Falconbridge's public relations officer Luis Rosado, the company's decision came as a result of an increase in its operational costs, adding that the drop in fuel prices hasn't been enough to balance out the high cost of mining. Rosado said however that the company would continue to employ 740 people and that the closure would not be permanent thanks to a cash reserve it has been developing for 20 years. The most difficult aspect of this decision is the timing, in the run-up to the holiday season. Although officials had asked for the announcement to be delayed until after the holidays Rosado said it had not been possible to do so.
More... (http://www.dr1.com/index.html#11)