Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

angloamerican fullMining Weekly reports that diamond mining giant De Beers is likely to have to cut jobs, its chief executive said on Thursday, as he outlined plans for an overhaul of the business after the coronavirus hit jewellery demand.  

De Beers, a unit of Anglo American, earlier reported plunging earnings in the first half of 2020 as a drop in rough diamond sales and prices hurt margins.  De Beers CEO Bruce Cleaver told Reuters that official consultations with workers would begin on 11 August.  He said the business overhaul "is likely to lead to some job losses, but I can't tell you at this point what that number will be".  Cleaver said the process would last for three months and involve a review of mining, rough sales, retail and the corporate centre, but exclude joint venture businesses in Botswana and Namibia where the miner employed 20,000 people.  De Beers said rough diamond demand would likely remain under pressure in the short term as travel restrictions in southern Africa continued and coronavirus outbreaks hit India's cutting centres.

  • Read the full original of the report in the above regard at Mining Weekly

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