BILLINGS, Mont. (AP) — Layoffs and buyouts potentially affecting about 100 workers are needed for Montana’s largest mining company to re-position itself for future growth after two foreign-expansion ventures were put on hold, the company’s chief executive officer said.

Michael “Mick” McMullen was appointed to lead the 1,700-employee Stillwater Mining Co. in December, following a corporate board takeover by disgruntled investors including former Gov. Brian Schweitzer.