Today's Labour News

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implatsBL Premium reports that nearly 4,000 jobs are on the line at Impala Platinum (Implats), as the platinum sector continues to labour under subdued prices that have seen widespread job cuts across the sector.

Implats said it had begun consulting with labour in a process that could see it let go of 3,900 workers, or 9% of workers at its Rustenburg, Impala Bafokeng and Marula operations. The mining house said the process would also result in a 30% reduction in head office costs. Nico Muller, Implats CEO said the plunge in platinum group metal (PGM) prices since the start of last year, and cost increases have forced the group to revise its business planning parameters. “Cost-saving, capital-deferment and voluntary labour-reduction initiatives to date have not sufficiently offset the impact of persistently lower prices. This has significantly undermined Implats’ financial position, which in turn threatens future job security for the entire workforce,” Muller indicated. He emphasised that no final decision had been taken regarding the proposed restructuring and that Implats was committed to a fair and transparent consultation process in terms of which all viable alternatives suggested to mitigate job losses would be considered.

  • Read the full original of the report in the above regard by Kabelo Khumalo at BusinessLive (subscriber access only)
  • Read too, Implats warns it could cut nearly 4,000 jobs, eyes 30% reduction in head office costs, at Fin24

Get other news reports at the SA Labour News home page