Diversified Mining Services cuts jobs

Coal mining contractor Diversified Mining Services is cutting jobs.

Last week the company announced that it was cutting up to a third of its workforce, according to the ABC.

The contractor will slash about 30 jobs from its operations, however it will not announce what positions will go until later today.

In the company's quarterly report managing director Terry Young explained that "clearly the industry is gong through some tough times at the moment" and "many of our customers are re-evaluating their cost base and making appropriate right-sizing decisions".

Young went on to state that this has lead to a slow down in demand, which "will mean a tightening of the belt across our business to consolidate and ensure we are in the best possible position when the market picks up".

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.