Amplats defers plans to axe up to 14,000 jobs
Anglo American Platinum has briefly delayed a restructuring that puts up to 14,000 jobs at risk to allow more time for talks with the government and unions.
The world’s largest platinum producer, known as Amplats, agreed to defer by two weeks a consultation on its planned lay-offs which could amount to around 3 per cent of South Africa’s mining labour force.
Amplats wants to mothball loss-making mines as part of a turnaround plan that has drawn criticism from the African National Congress-led government, under pressure to tackle high unemployment ahead of general elections next year.
Amplats chief executive Chris Griffith said that talks with the government had been “constructive”.
“What we agreed on is we would delay the consultation process,” he said.