Iamgold tackles costs, cuts 45 head office jobs

摘要

Iamgold (TSX: IMG; NYSE: IAG) is trimming the fat on its balance sheet, with hopes of returning to a cash flow positive position next year. The Toronto-based miner recently said it aims to reduce corporate general and administrative expenses by another 10% in 2015, from the US$125 million in cost savings realized in 2013. To help reach that target, Iamgold slashed its executive team by 40% and disbanded most of its project development team.