Canadian Mineral company Shore Gold has announced that it will considerably reduce the size of it's staff this year.

The company introduced a much smaller budget for 2009, and says with that, they must cut on-site staff.

So far it is unclear just how many workers will be affected.

Senior Vice President of Exploration and Development, George Read, states in a news release that in the current uncertain financial markets, Shore believes it is important that they carefully manage their cash position.