Anglo American Platinum Plans to Slash Nearly 4000 Jobs

Anglo American Platinum has announced its intention to cut nearly 3,700 jobs across its platinum metals mining business, affecting over 600 contracted firms. Jacaranda FM reports that this decision comes as the company grapples with a significant decrease in profit, dropping from R49.2 billion in 2022 to R13 billion last year, attributed to a 35% decline in the platinum group metals dollar basket price during the 2023 financial year.

Also read: Gold One Modder East Grapples with Costs from Two Hostage Situations

CEO Craig Miller highlighted the necessity of implementing measures to bolster resilience and competitiveness in light of these challenges. Negotiations on restructuring will soon commence with employees and trade unions as part of the Section 189 process, slated to unfold over the coming months.

Also read:

Gold One Mine: Approximately 150 More Jobs at Stake Following 400 Dismissals

Picture: Meta / Anglo American Platinum

Follow us on Google News.