The Placer Dome in Timmins is cutting back as many as 32 employees to improve profitability at their South Porcupine mine. Blaming rising fuel and hydro costs, slumping gold prices and lower grades of ore, company management is initiating a restructuring plan to improve profitability. Mine officials will be meeting with the union to discuss the layoffs involving 26 hourly workers and six staff positions. Hourly workers are covered under a collective agreement but technical, supervisory and office staff are not.
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