Sibanye-Stillwater has since the beginning of 2023 reduced the total number of employees and contractors in the Southern African (SA) region by 14% to just over 70,000 from about 81,500 at the end of 2022.
The job cuts came as a result of the closure of end-of-life shafts and plants at Beatrix 4 shaft, Kloof 2 plant, Kloof 4 shaft, Simunye shaft, and 4 Belt shaft.
It was also attributed to the restructuring of loss-making shafts such as the Siphumelele, Rowland, and Beatrix 1, the multinational mining and metals processing group said.
However, this represents a significant reduction in the total wage base of the SA region. The total number of forced reductions over the last 18 months was significantly reduced to 966 employees out of a total of approximately 11,500 impacted employees and contractors.
“We have restructured the SA region to align with the reduced operating footprint following the necessary operational restructuring for greater regional sustainability and profitability. We are well positioned for ongoing shared value delivery,” said Sibanye-Stillwater chief executive Neal Froneman.
“It is extremely encouraging that the restructuring efforts undertaken in the SA region have not only successfully and proactively addressed loss-making operations, thereby securing the benefits and value they continue to bring to multiple stakeholders, but through cooperative consultation with stakeholders, limited forced retrenchments to just 8% of total employees impacted since January 2023.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
