• Anglo American to slash workforce

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    LONDON: Mining giant Anglo American on Tuesday said it plans to slash its workforce by almost two-thirds, from 135,000 staff to 50,000 after 2017, under restructuring triggered by tumbling commodity prices.

    The company published a graph showing the expected decline in jobs — to 99,000 next year and 92,000 in 2017 followed by another sharp reduction — via a combination of asset sales and internal cuts.

    “We will be radically restructuring our portfolio, so the net result is expect to be a reduction to around 50,000 employees,” a spokesperson confirmed in an email to Agence France-Presse.

    “But bear in mind that these include assets that we will sell, so the 85,000 jobs don’t [all]disappear as many will be employed by new owners of those mines that we sell.”

    AFP

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