JOHANNESBURG (Reuters) – South African miner Sibanye-Stillwater (SGLJ.J) said on Thursday it has concluded a consultation process that reduced the number of proposed job cuts as it restructures the loss-making Marikana operations it acquired last year.
In September, Sibanye said it planned to cut around 5,270 jobs, or about 6% of its workforce, as part of a restructuring process aimed at returning the mine to profit and protecting its remaining shafts.
The outcome of the consultation process saw about 1,612 employees granted voluntary separation packages, another 1,142 retrenched and the number of contractors reduced by 1,709. Another 53 workers left on normal retirement terms and natural attrition accounted for 259 jobs, the miner said.
At 1354 GMT, the company’s shares were up 5.80% at 37.92