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Anglo American Platinum Ltd Announces Resolution Of The Strike Action Associated With The Restructuring Of The Business


Friday, 11 Oct 2013 02:00am EDT 

Anglo American Platinum Ltd announced that its proposals in January 2013 to create a sustainable, competitive and profitable platinum business for the long term benefit of all its stakeholders. The Company had originally proposed that a total of up to 14,000 jobs would be affected in order to achieve those objectives, 13,000 of which would be in the Rustenburg area. It was always envisaged that the ultimate numbers of employees to be retrenched, after taking into account mitigation plans, would be significantly lower. The extensive consultation process between the DMR, Anglo American Platinum and organised labour led to a revision of the original proposal, enabling the Company to still achieve its efficiency objectives while reducing significantly the number of mining and processing jobs affected to approximately 6,000, in addition to 900 corporate and overhead employees. This was followed by an extensive consultation process facilitated by the CCMA, which commenced on June 10 and was completed on August 15 , 2013. As part of the strike settlement, the 3,300 impacted employees who had previously not taken up the offer of redeployment, voluntary separation or early retirement, and were to be retrenched, have now been granted voluntary separation packages. The legal strike action brought by AMCU, which commenced on September 27, 2013 in the Rustenburg and the North of the Pilanesburg operations, has ended after 11 working days. 

Company Quote

48048.0
174.0 +0.36%
9:07am EDT