Nearly 4,000 jobs on the line at Implats

• Published date: 26 April 2024
• Author: Kabelo Khumalo Companies & Markets Editor
• Publication title: Business Day: Web Edition Articles (Johannesburg, South Africa)

Implats, which said it had begun consulting with labour, in a process that could see it let go of 3,900 workers — or 9% of workers at its Rustenburg, Impala Bafokeng and Marula operations. The mining house said the process will also result in a 30% reduction in head office costs

Nico Muller, Implats CEO said the plunge in platinum group metal (PGM) prices since the start of last year, and cost increases have forced the group to revise its business planning parameters.

"Costsaving, capitaldeferment and voluntary labourreduction initiatives to date have not sufficiently offset the impact of persistently lower prices. This has significantly undermined Implats' financial position, which in turn threatens future job security for the entire workforce," Muller said.

"It must be emphasised that Implats is committed to a fair and transparent consultation process. No final decision has been taken regarding the proposed restructuring, and no final decision will be taken before full and proper consultation with affected employees...