RUSSELL Mineral Equipment (RME) has announced that 40 to 50 people in its Toowoomba headquarters would lose their jobs.
RME's founder and Managing Director Dr John Russell advised staff about the company's plans for remaining a strong and viable enterprise.
He said the global mining industry was making a transition from a construction boom period to a time of high volume, competitive commodities supply.
"Since late 2014, a small number of significant capital equipment projects were unexpectedly suspended due to geopolitical complications, compounded by a recent fall in commodity prices, particularly copper.
"RME's Executive Management believe that this level of capital equipment market fragility is likely to continue for at least two years before the mining investment cycle returns to a longer term demand pattern.
"In response to these unexpected project suspensions, RME is preparing to decrease the number of positions available at its Toowoomba manufacturing headquarters. Between 40 and 50 positions are likely to become redundant from late this month with 130 Australian personnel remaining and a further 70 personnel remaining in RME's global Service Centres.''
Dr John Russell: "RME is doing all it can to support all employees; those who are unfortunately leaving us and those who are continuing on to further develop RME's future."
RME will be supporting staff with counselling services and, for those seeking alternative employment, professional outplacement services.
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