Anglo-American to employ 85,000 less Various sources, 8 December 2015 “Anglo American Rips Itself Apart, Dumping Half Its Assets Along With 85,000 Workers” The cuts will reduce a company that once ranked as the world’s biggest miner to less than half its current size with 35 mines being sold or closed, leaving it with just 20 operating assets. Forbes <http://www.forbes.com/sites/timtreadgold/2015/12/08/anglo-american-rips-itself-apart-dumping-half-its-assets-along-with-85000-workers/> Anglo said it would cut its assets by 60 percent, reduce its workforce to 50,000 from 135,000 and form three divisions: De Beers for diamonds, Industrial Metals for platinum and base metals and Bulk Commodities for coal and iron ore. Reuters <http://www.timeslive.co.za/sundaytimes/businesstimes/2015/12/08/Anglo-American-to-sell-more-assets-and-suspend-dividends> Anglo said it plans to slash its workforce by almost two-thirds, from 135,000 staff to 50,000 after 2017. The company published a graph showing the expected decline in jobs — to 99,000 next year and 92,000 in 2017 followed by another sharp reduction — via a combination of asset sales and internal cuts. “We will be radically restructuring our portfolio, so the net result is expected to be a reduction to around 50,000 employees,” a spokesperson confirmed in an email to AFP. “But bear in mind that these include assets that we will sell, so the 85,000 jobs don’t (all) disappear as many will be employed by new owners of those mines that we sell.” The Citizen <http://www.citizen.co.za/afp_feed_article/anglo-american-to-slash-staff-by-almost-two-thirds/> Once the restructuring is complete Anglo could be left with about 50,000 staff, compared with 135,000 now. It is likely to own “between 20 and 25” assets compared with the 55 mines and smelters it owns today, its chief executive Mark Cutifani said. “Any asset that is cash-negative will not remain in the portfolio . . . it is a strategic call and we are not going to look back,” he said. Financial Times <http://www.ft.com/intl/cms/s/0/133c718a-9d85-11e5-b45d-4812f209f861.html#axzz3tl5CPQqf> -- -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . --- You received this message because you are subscribed to the Google Groups "YCLSA Discussion Forum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
