Inco to cut staff

Mining giant Inco (TSE) will cut its payroll by at least 500 employees through attrition over the next two years, but the company says there will no layoffs from its 9,700-strong primary metals workforce in Canada. Inco, a relatively high-cost nickel producer, has been hurt by a declining nickel price. Nickel recently traded at US$2.75 per lb., down from US$3.35 this time last year.