Sibanye-Stillwater to cut over 5,000 jobs at Marikana

Sibanye-Stillwater is set to retrench over 5000 workers at its Marikana operations. This forms part of the company's restructuring at the loss-making mine. Courtesy #DStv403

JOHANNESBURG - Sibanye-Stillwater is set to retrench over five thousand workers at its Marikana operations.

This forms part of the company's restructuring at the loss-making mine. Sibanye-Stillwater bought the mine in June this year. 

READ: Sibanye-Stillwater miners brought to surface

It's also dealing with a deadlock in wage negotiations with AMCU after the union declared a wage dispute in the platinum belt. 

Sibanye-Stillwater says the job cuts are less than originally expected.

READ: Amcu locked in wage dispute with Anglo-American

James Wellsted of Sibanye-Stillwater says the S189 process follows a detailed three-month review of the Marikana operation, post the Lonmin acquisition becoming effective in June 2019.

"The review and planning process included the simulation of alternative scenarios to minimize job losses. Approximately 5,270 jobs are expected to be lost due to the restructuring."

Watch the video above for more. 

Source
eNCA