Brazil's Vale says none of its employees on paid-leave yet

Special Report:Global Financial Crisis

RIO DE JANEIRO, Feb. 2 (Chinese media) -- Brazilian mining giant Companhia Vale do

Rio Doce (Vale) said on Monday a plan to put 17,800 employees on temporary

paid-leave was just a possibility and no employees had been put on paid-leave

yet.

The company on Friday announced an agreement with eight trade unions on

putting 17,800 workers on temporary paid-leave.

Under the agreement, Vale employees will receive half of their regular

wages per month plus a compensation of 856 reais (368 U.S. dollars) while on

leave.

Vale said the paid-leave plan was merely a possibility, which would be put

into action only if necessary.

It is still not known at this time whether the plan is needed and how many

employees will be affected should it be applied, the company's spokesperson

said.

If Vale decides to use the paid leave option, employees affected will be

warned two weeks ahead.

The company has committed to maintaining, until May 31, the jobs of all

workers who accept the leave deal.