Crumbling world financial markets and declining commodity prices are forcing Xstrata Nickel in Sudbury and the union to cut 250 jobs through early retirement.

Details have been posted for maintenance and production employees to apply for the early retirement program by Dec. 15. The retirements will go into effect, Feb. 1, 2009.

Two nickel mines are being closed next year at Craig and Thayer-Lindsley, considered at their end of operational life. More production is expected from their new Nickel Rim South and the Fraser Morgan mines.

Thayer-Lindsley ceases operation at the end of January, while Craig goes into care and maintenance in June.