BUSINESS

Alcan Name To Fade As Rio Tinto Cuts Up To 170 Jobs In Montreal

05/11/2015 06:16 EDT | Updated 05/12/2016 05:59 EDT
AFP via Getty Images
WASHINGTON, UNITED STATES: (FILES) This undated file photo received 08 July 2003 shows the Alcan Aluminum Corporation logo. Alcan Inc said 25 November 2004 it will cut approximately 520 jobs in Europe as part of a proposed restructuring of nine sites, taken as a result of 'changing market conditions and business realities'. The Canadian aluminum and packaging group, which presently employs 46,000 people in Europe, said the cuts will be partially offset by the expected creation of 40 new jobs in France and Switzerland, and additional jobs in Italy. Consultations with employee representatives have begun. AFP PHOTO/HO (Photo credit should read HO/AFP/Getty Images)
MONTREAL - Rio Tinto is shedding between 110 and 170 jobs in Montreal as the mining company prepares to move early next year into its new Canadian headquarters, with the Alcan name missing from the building.

The company said Monday that the staff reductions are part of the London-based company's efforts announced last February to streamline global operations to reduce costs.

"We are in a cyclical industry and we have to adapt with the market," spokeswoman Claudine Gagnon said.

The reduction of corporate jobs that support various metal groups will begin in a few weeks and be completed by year-end.

About 800 employees currently work for the aluminum and other metal group divisions in Montreal.

The aluminum division's global headquarters will remain in the city but the name Alcan will gradually become less prominent. Rio Tinto will the identity of the featured tenant in the new, 26-storey Deloitte tower that will open next to the Bell Centre — home of the Montreal Canadiens.

Rio Tinto will occupy the top floors of the tower beginning in the first quarter of 2016.

The Rio Tinto Alcan moniker will still be used for Montreal's new planetarium and sponsorship events like the Montreal Jazz Festival.

Alcan has been in use since 1925 for the company, formerly the Aluminum Company of Canada. It was acquired by Rio Tinto in 2007 for US$38.1 billion.

In addition to aluminum operations in Quebec and British Columbia, Rio Tinto owns a majority stake in the Iron Ore Company of Canada and the Diavik diamond mine in the Northwest Territories.

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