Platinum producer Lonmin is planning to lay off 4 100 of its employees from six mines that have run out of commercially viable ore.
The company has begun the processes that’s required under South African labour law to carry out the staff reductions.
Lonmin announced in 2017 that they would retrench 12 600 workers over a three-year period and cited that the job cuts are part of their strategy to trim staff and decrease costs at its deep-level mines.
Rustenburg Chamber of Commerce commented early in 2019 that mass retrenchments on the platinum belt will cost the country’s economy more than R1 billion per month.
Related video click below:
The post Lonmin to retrench thousands of mineworkers appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..