Falling iron ore prices are forcing Rio Tinto (RIO +1%) to accelerate and deepen a cost-cutting...

|About: Rio Tinto plc (RIO)|By:, SA News Editor

Falling iron ore prices are forcing Rio Tinto (RIO +1%) to accelerate and deepen a cost-cutting program across its back office, Reuters reports. RIO is said to be cutting jobs in London and Melbourne, and is moving departments to lower-cost offices. Miners across the board have been cutting back as they grapple with low metals prices, weak demand and currency headwinds.