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CEO: Amplats going through tough time

Aug 30 2013 19:45 Sapa, Fin24
Amplats

Amplats announced earlier this year that, as a result of proposed changes to the business, jobs must br cut. (File, AP)

Company Data

Anglo American Plat Ltd [JSE:AMS]

Last traded 0
Change 1,24
% Change 0
Cumulative volume 288997
Market cap 107.52bn

Last Updated: 19-09-2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Anglo Platinum [JSE:AMS] (Amplats) is experiencing a difficult time as the firm embarks on layoffs, says CEO Chris Griffith.

Amplats will retrench 3 300 workers at the end of next month.

"This is a difficult time for our employees and the company and we have made every possible effort to minimise the impact on employees and affected communities," Griffith said.

Their one-month notice period would come into effect on September 2. Another 900 jobs would be lost in the corporate division.

The company initially said about 14 000 jobs would be lost in a bid to create a competitive and profitable platinum business, most of them in the Rustenburg area.

Since this announcement in January, extensive consultations had been held with trade unions and the minerals and energy department.

This process had resulted in a number of workers being redeployed into vacancies across the company, and others opting for voluntary severance packages or early retirement.

The company said though the retrenchment figures had drastically been reduced, workers in Rustenburg would still bear the brunt.

"Amplats is actively working with its key stakeholders to co-create a social impact mitigation plan (SIMP)."

This proposal included:

  • temporary employment of 1 200 people for reclamation at the affected mines for the next six to nine months;
  • an approved social housing project in partnership with the Rustenburg municipality and government to build 4 000 houses and provide portable skills training immediately, creating an expected 800 job opportunities; and
  • an additional 1 000 job opportunities will be created within a year through investments in agriculture and waste recycling projects.

 - Sapa, Fin24


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