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Bloomberg reports that Anglo American Plc is planning more job cuts at its corporate office, as it restructures its business by selling assets and spinning off its platinum unit.
The company has sent notices to employees who are likely to be affected. The job cuts were in line with the company’s disposals and other restructuring plans, Anglo American said in response to queries. Consultations have just begun and the number of people affected has yet to be determined. Anglo began restructuring the business last year after it fended off a take-over bid by the rival BHP Group. It has sold its coking coal and nickel businesses and is on track to spin off most of its controlling holding in Anglo American Platinum (Amplats) by June. It also plans to either sell or hold an initial public offering for its De Beers unit, which is the world’s biggest diamond company. Most of its corporate staff are in South Africa. The company slashed jobs at its main South African corporate office in 2023 and later fired workers at its iron ore unit, which it is retaining, and at Amplats.
- Read the full original of the report in the above regard by Loni Prinsloo & Antony Sguazzin at Moneyweb
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