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Amplats job cuts on hold for now

Jan 28 2013 16:13 Sapa
Amplats

During the meeting a number of proposals were dicussed on how the effects of Amplats' restructuring plans could be mitigated. (File, AP)

Company Data

Anglo American Plat Ltd [JSE:AMS]

Last traded 480.00
Change -3.88
% Change -0.01
Cumulative volume 149479
Market cap 129.45bn

Last Updated: 28/07/2014 at 03:43. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg – Anglo Platinum [JSE:AMS] (Amplats) is discussing its planned retrenchment of nearly 14 000 mineworkers with concerned parties on Monday.

"Anglo Platinum confirms that it is engaged in discussions with its key stakeholders, labour unions and government, regarding the portfolio review. Updates will be issued as and when appropriate," spokesperson Mpumi Sithole said.

A formal announcement on whether talks had succeeded in saving jobs was expected on Monday.

According to a report on Sunday, Amplats had put the planned retrenchments on hold for two months.

Unnamed sources told The Sunday Independent that Amplats chief executive Chris Griffiths had written to affected unions confirming Amplats' decision to allow a two-month moratorium on its restructuring.

Amplats announced the retrenchments on January 15.

The vast majority of job cuts - 13 000 in all - would be lost around Rustenburg, that was at the centre of violent labour unrest last August and September.

According to The Sunday Independent, part of Amplats' new agreement could include setting up a task team to investigate the findings on the profitability of the two shafts it planned to shut.

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amplats  |  jobs  |  mines
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