Westwood gold mine staff cut by one-third

Mid-tier miner Iamgold has confirmed a 32% workforce reduction at its Westwood gold operation in Quebec, Canada
Westwood gold mine staff cut by one-third Westwood gold mine staff cut by one-third Westwood gold mine staff cut by one-third Westwood gold mine staff cut by one-third Westwood gold mine staff cut by one-third

Westwood began commercial production in July 2014

The company said the staff cuts, which commenced this week, are the result of Westwood's stage of development, as well as realignment reductions from its already announced production guidance of 100,000oz to 120,000oz for the year.

Iamgold called the job slices a stabilising cost control measure, adding that it is working on a revised life-of-mine plan for Westwood. Amidst the changes, the company confirmed it is offering redeployment assistance.

"We concluded that this difficult decision had to be made in conjunction with planned reductions after assessing the balance of production levels and costs," said president and CEO Steve Letwin. "We remain focused on developing a long-term plan for Westwood that is both safe and profitable.

The Westwood mine, 80km west of Val d'Or, is 100% owned by Iamgold. It began commercial production in July 2014.