South African platinum producer to cut some 2,000 jobs

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The company had said earlier that it would cut 6,000 jobs by the end of the year.

But Lonmin confirmed it had managed to decrease that number by 4,000 due to a move by the company to avail early retrenchment packages to employees.

Lonmin said that if workers reaching retirement age voluntarily take the packages, then the move to retrench could be abandoned entirely.

The company cited falling commodity prices and the continuing plummet of the rand’s value as two major factors that forced it to retrench. Enditem

Source: Xinhua

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