New Caledonia's SLN nickel company has restated its need to cut costs in a bid to ensure the company's long-term viability.
The head of SLN, which is the territory's biggest private sector employer, says over the next three years, the company plans to save 120 million US dollars.
Pierre Alla has told a news conference in Noumea that the plan entails cutting about 20 percent of the company's 2,500 jobs by 2012.
Mr Alla also says the price of nickel has more than doubled since its low in December, setting an end to SLN losing money.
New Caledonian unions as well as the territory's government are opposed to the cuts.