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Amplats plans to cut thousands of jobs after profit plunge

Amplats plans to cut thousands of jobs after profit plunge

ANGLO American Platinum (Amplats) plans to cut thousands of jobs at its mines in South Africa, it said, after profit plunged by 71% last year. The company said it was embarking on a restructuring that could affect about 3,700 jobs at its South African operations, or 17% of the Anglo American b unit's workforce, as it battles to keep a lid on costs after a slump in the price of platinum group metals (PGMs). The miner is also reviewing agreements with 620 contractors or service providers to help save costs, it said. South Africa's PGM miners are resorting to cutting jobs and…
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