Anglo American Platinum, also known as Amplats, has proposed a restructuring of its business due to plummeting metal prices, which may result in approximately 3,700 job cuts across its South African operations, constituting about 17% of its workforce. This move comes as the company reports a significant 71% drop in annual profit. Additionally, Anglo American's South African iron ore unit, Kumba Iron Ore, is considering a reorganization that could affect around 490 jobs, attributed to logistics challenges that have hampered its export capabilities. The broader South African PGM producers could shed up to 7,000 jobs amid the price rout.
Anglo's Kumba Iron Ore plans to cut 490 jobs as rail crisis hits output https://t.co/RHfjqsVuj5 https://t.co/szn2uwtCZD
Anglo American’s South African iron ore unit proposes a reorganization that may affect about 490 jobs, as logistics bottlenecks limit its ability to export https://t.co/qTh6QFGBsA
Iron Ore Slumps to Three-Month Low as China Concerns Escalate https://t.co/bOVDNVKM3u
Amplats Weighs Cutting 3,700 Jobs After Metal Prices Slump Anglo American Platinum Ltd. has proposed a restructuring that may affect 3,700 jobs across its South African operations, as plummeting metal prices squeeze profits. That’s a blow for what has long been one the…
Amplats plans to cut thousands of jobs after profit plunge Miner could cut 17% of workforce SA PGM producers could shed 7,000 jobs amid price rout Amplats annual profit falls 71% https://t.co/TqS5xDvDKO
Anglo American Platinum to cut jobs in South Africa as metals prices slide https://t.co/FKJnSH2Yif
Amplats says restructuring to impact 3,700 workers https://t.co/W1pPywK8J5 https://t.co/5vN1SJNQ3r
Anglo American Platinum proposes a restructure of its business that may affect about 3,700 jobs across its South African operations https://t.co/W1uEzuUBbd