Samancor Chrome Considering Job Cuts

Mining Weekly reported that the low price of chrome has Samancor Chrome Ltd. considering job cuts. The cuts could affect as many as 280 employees.
As quoted in the market news:

“Despite the implementation of several measures at all our business units, the . . . decrease of the ferrochrome market price has forced us to issue a Section 189 notice today to all the recognised unions representing staff across all operations and corporate offices,” the company said in an earlier statement.
It had previously sought to cut costs through the reduction of overtime, placing a moratorium on recruitment and the discontinuance of contractors, to no avail.
This would affect all three of Samancor Chrome’s smelters in Emalahleni (Witbank), Middelburg and Steelpoort.
Solidarity metals industry deputy general secretary Marius Croucamp said that, although the union understood the many challenges facing the company, and the consequent impact this has on its profitability, it was “extremely concerned” about the possibility of job losses.

Click here to read the full Mining Weekly report.