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.

implatsReuters reports that Impala Platinum is offering voluntary job cuts to workers at platinum mining shafts in SA in a bid to cut costs as prices for the metal fall.

The platinum producer started the process at its head office last month, and is now extending the exit packages to its sprawling Rustenburg mining complex in North West province. Company spokesperson Johan Theron declined to say how many jobs the company expected to cut and how much money it planned to save. “We are obviously doing everything to reduce costs. Labour is a big cost component so you always start with labour by offering voluntary separation packages,” Theron indicated. The price for palladium has plunged nearly 40% so far this year while primary metal platinum is down 14%. Demand for particularly palladium has been hit by weakening demand in China. Impala’s rival Sibanye Stillwater said last month it planned to cut more than 4,000 jobs and close some of its old platinum mining shafts that were running out of commercially viable ore. Anglo American said in October it was weighing job cuts at its head offices in SA and across the globe in a bid to save costs.

  • Read the full original of the report in the above regard by Felix Njini at Moneyweb

Get other news reports at the SA Labour News home page