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Glencore reducing jobs in South African operations

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World Coal,

Following a decline in commodity prices and a need to reduce the company’s debt of approximately $30 billion, Glencore has been reassessing its operations. It intends to cut a potential 380 jobs at its Optimum Coal subsidiary in South Africa according to Reuters.

This comes after shutting down certain operations at the unit and laying off 630 workers there this year.

The company has let go 240 employees at its South Witbank coal mine in the northeastern Mpumalanga province and is intending to cut a potential 100 positions at the Witcons coal-processing plant, close to the mine, according to reports from Bloomberg.

Glencore employs about 35,000 people in South Africa. Gugulethu Maqetuka is reported to have indicated that the closure of the South Witbank mine would affect 378 employees in total, including 138 who were being relocated to other operations, reported Reuters.

Other mining companies are also making job cuts and lower their costs. Approximately 22 000 jobs could be at risk, according to South Africa's National Union of Mineworkers.

Edited from various sources: ReutersBloomberg by Harleigh Hobbs

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