Glencore Set to Lay Off Several Xstrata Managers
May 01 2013 - 10:00PM
Dow Jones News
Glencore International PLC (GLNCY) will lay off hundreds of
Xstrata PLC (XTA.LN) managers when it takes control of its rival
and clears out many of the mining group's top executives, U.K.
daily The Times reported on its website Wednesday, without citing
specific sources.
The two groups will merge with the delisting of Xstrata shares,
The Times said.
Glencore will start to slim down the combined group by selling
assets and disposing of projects that it deems non-starters, The
Times said.
Newspaper website: www.thetimes.co.uk
Write to Dennis Baker at dennis.baker@dowjones.com
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