Amplats to Begin Cutting 6,000 South African Jobs

Mineweb reported that at the end of this week, Anglo American Platinum Ltd. (OTC Pink:AGPPY) will formally begin the process of cutting 6,000 jobs in South Africa. Some fear that the action will provoke unrest.

As quoted in the market news:

Unions have still vowed to fight the job cuts, although a protest strike called last week by at least two officials at the militant Association of Mineworkers and Construction Union (AMCU) failed to materialise.

Amplats said talks coordinated by the Commission for Conciliation Mediation and Arbitration (CCMA), an industrial arbitration body, would begin later this week.

Click here to read the full Mineweb report.