Vale Inco cutting 900 jobs, including 350 in Canada

Nickel miner Vale Inco Ltd. is cutting 900 jobs from its worldwide operations, including 350 in Canada, in response to weakness in the commodities market.

The Toronto-based company said the reductions will be focused largely on corporate, management and business support functions.

The latest cut follows a December 2008reduction of 1,300 jobs.

The company said it has about 14,000 employees.

"The declining nickel price and reduced demand for nickel make it clear that continuing to operate in our current fashion is simply not sustainable," said Tito Martins, Vale Inco's CEO and president

"The measures we're announcing today are intended to address the immediate health of the business and help reshape the organization for a long-term, successful and sustainable future," Martins said in a release.