Brazilian mining giant Vale cuts 1,300 jobs

Special Report:Global Financial Crisis

RIO DE JANEIRO, Dec. 3 (Chinese media) -- Brazil's largest mining company Companhia Vale do Rio Doce (Vale) announced Wednesday it had dismissed 1,300 employees worldwide amid the global financial crisis.

The mining giant also said it would grant 30-day vacations to another 5,500 employees this month and in February 2009, and it had put 1,200 others on training for new positions.

The job cut was a result of a drop in orders, which has forced the company to slash 30 million metric tons in its annual iron reproduction in October, Vale said.

The company said 20 percent of the dismissed and 80 percent of those on leave are in southeastern Brazil, where most of Vale's operations are based. Vale had 62,000 employees before the job cuts.

Vale said no further job cuts were foreseen, and it was working to keep the job cuts at the lowest level possible.