South African mining company Sibanye Stillwater is facing severe financial difficulties, prompting it to consider significant job reductions across its operations. The company, which reported a substantial loss of 2 billion dollars last year, may cut as many as 4,022 jobs in an effort to stem further financial bleeding.
The proposed job cuts are primarily targeted at the Beatrix 1 shaft, where production has notably failed to meet expectations. Additional losses are anticipated at the Kloof 2 site, which has suffered from insufficient material for processing following the closure of the Kloof 4 shaft in 2023.
This move is expected to face strong resistance from the union, highlighting ongoing tensions between labor interests and management's strategies to stabilize the company's finances.
