Sibanye to cut R800 million jobs?
Rustenburg & Kroondal Operations
Rustenburg / Kroondal – Sibanye advised on Thursday, 26 January 2017, that it will be entering into a consultation process at its Platinum Operations, in terms of section 189A of the Labour Relations Act 66 of 1995.
This process could result in the retrenchment of approximately 330 employees, which remains well within the scope of the Competition Tribunal’s ruling when it approved the acquisitions of Aquarius Platinum Limited and the Rustenburg Operations in March 2016.
A final decision will be taken following consultation with organised labour representatives and relevant employees.
In 2016, Sibanye highlighted approximately R800 million in cost and operational synergies that need to be realised between the Kroondal and Rustenburg operations to ensure sustainability.
The reduction in replicated overhead costs and duplicate structures is a critical first step in realising these synergies.
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