Anglo American Platinum concluded talks with key stakeholders and unions and will go ahead with restructuring that includes the loss of 6,900 jobs, reported Stock Market Wire Monday morning.
Amplats will begin firing employees as of September 1, reported AFP in a breaking news tweet. Amplat is the world’s largest leading primary producer of platinum group metals, according to its website. It accounts for 40 percent of the world’s platinum and it operates out of South Africa.
Its restructuring plans include consolidating mines. The ultimate number of retrenchments will depend on measures such as voluntary severance packages, early retirement, and more, reports Stock Market Wire.