Global mining company Anglo American is reportedly planning to cut between five and 20 per cent of its staff at head offices around the world.
The move is intended to appease shareholders and respond to weak commodity prices which have taken a massive toll on Anglo’s profits, according to reports by Reuters.
“I can confirm that at group level there are major job cuts brewing,” one source close to the company said.
“They are considering a headcount cut of about 20 percent at group level and further restructuring through all divisions,” a second source said.
Anglo American, which currently employs about 151,200 staff globally, is expected to announce the job cuts later this month when it publishes its first-half results.
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