Precious metals miner Sibanye-Stillwater announced it cut thousands of jobs at its platinum operations, adding to thousands at risk at its gold mines, while private hospital operator Life Healthcare slumped after a dire trading update. Precious metals group Sibanye-Stillwater has launched a retrenchment process that could affect over 4 000 employees at four shafts and associated services at its South African platinum operations. The group said the proposed restructuring could affect up to 4 095 workers, comprising 3 500 employees and 595 contractors. The company had about 36 000 employees as of 2022 and also recently announced it could cut almost 3 000 gold jobs at its Kloof 4 shaft near Carletonville. The group's shares jumped 7.5% on Wednesday and are up 44% on a one-year basis.

Source: News 24 October 25, 2023 21:08 UTC