Rail crisis forces Kumba Iron Ore to cut more jobs
The company plans to lay off 490 workers to cut costs as production contracts
20 February 2024 - 09:46
UPDATED 20 February 2024 - 21:16
The decision taken by global mining giant Anglo American in December to slash capital expenditure by $1.8bn until 2026 in response to a plunge in commodity prices has seen Kumba become the latest company in the stable to announce job cuts as it strives to cut costs.
Kumba on Tuesday said 490 workers might lose their jobs, and contracts with service providers were being reviewed as the iron ore producer sought to cut costs by at least R2.5bn this financial year...
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