AngloGold Ashanti to retrench thousands
AngloGold Ashanti says it has made the decision to begin a consultation process with employees with an eye on restructuring certain of its South African business units.
The company's Stewart Bailey says this follows a review of the performance of loss-making operations.
"This consultation with organised labour groups, facilitated by the Council for Conciliation, Mediation and Arbitration (CCMA), will be aimed at safely returning the South African business to profitability, whilst mitigating job losses," says Bailey.
Bailey says the restructuring is necessary to protect the overall viability of its South African business over the long-term, and to safeguard employment at viable business units in the West Wits and Vaal River regions.
"While all efforts will be made to limit the impact on employment to the greatest extent possible, this restructuring contemplates some 8,500 roles across AngloGold Ashanti's South African business, which currently employs about 28,000 people, including contractors," says Bailey.