Impala Platinum says restructuring could cut 3,900 jobs in South Africa

April 26 (Reuters) – Impala Platinum (Implats) said on Friday the restructuring of its South African operations could lead to 3,900 job losses as it battles to contain costs amid low metal prices.

“Cost-saving, capital-deferment and voluntary labour-reduction initiatives to date have not sufficiently offset the impact of persistently lower prices,” Implats CEO Nico Muller said in a statement.

“This has significantly undermined Implats’ financial position, which in turn threatens future job security for the entire workforce,” he added. (Reporting by Felix Njini and Nelson Banya; Editing by Olivia Kumwenda-Mtambo)

(c) Copyright Thomson Reuters 2024. Click For Restrictions – https://agency.reuters.com/en/copyright.html