AngloGold to retrench 8,500 workers at struggling mines
- Published on 29 Jun 2017
- HR Pulse News Desk
AngloGold Ashanti is retrenching 8,500 mine workers as part of its restructuring of its South African business "to ensure their viability", sending its shares lower.
The company which employs 28,000 people, said the retrenchment was part of restructuring of the company’s production and cost base in its South African business. In May, AngloGold reported a 16% drop in first-quarter profit following a decline in South African production, and said it was reviewing its South African operations to restore their margin and ensure their recovery.
Source: Reuters
