Anglo American to Sell Assets, Cut Jobs Following US$3 Billion Writedown

Mining Australia reports that, after recording a US$3 billion writedown for the first half of 2015, Anglo American (LSE:AAL) is planning to cut roughly 6000 jobs and sell a number of assets.
As quoted in the publication:

The miner reported a half-year profit before tax of $1.9 billion, or 36 per cent less than in the same period last year, blaming weaker commodity prices.
Commodity price-driven impairments totalled $US3.5 billion after tax, including $US2.9 billion at the Minas-Rio ironore project in Brazil.
Anglo says it is now focused on accelerated cost and capex reductions to mitigate price weakness.
The company is targeting a saving of $US500 million through the reduction of 6,000 overhead and other indirect roles.

Click here for the full Mining Australia article.