Impala Platinum Considers Reducing Headcount by 2,500
By Carlo Martuscelli
Impala Platinum Holdings Ltd. (IMP.JO) is considering reducing the headcount at its Impala Rustenburg operation due to severe financial pressure, the company said on Monday.
The South African platinum mining company said that it expects to let go some 2,500 people in the short term, with further staff reductions possible in the future.
Low metal prices, higher production costs, and falling productivity has impacted the financial sustainability of the company, said Impala, making the layoffs necessary.
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(END) Dow Jones Newswires
September 18, 2017 09:56 ET (13:56 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.