Thousands of jobs on the line as Sibanye restructures - SABC News - Breaking news, special reports, world,

Sibanye Stillwater launches a restructuring process that could lead to a loss of over 4000 jobs.

The process is expected to affect four of its shafts and associated services at its South African platinum operations.

“This year we’ve seen a significant decline in the price of PGM’s largely driven by the global macro-economic outlook and the outlook for the global auto industry and as a result, the global industry is facing very squeezed margins and significantly under water in many areas.” “So, what we’re doing is we’ve identified these shafts that are loss-making and posing a risk. And we will now enter into a mandatory 60-day consultation period with the affected employees and their representatives in order to try and find alternatives to closure which may then minimise or reduce the number of jobs that are at risk.”

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