June 5, 2019 / 9:27 AM / 15 days ago

Sibanye-Stillwater reduces job cut estimate to 3,450 in gold shake-up

JOHANNESBURG, June 5 (Reuters) - Sibanye-Stillwater said on Wednesday around 3,450 jobs will be affected by the proposed restructuring of the company’s gold mining operations following losses at some of its mines last year.

The number of job losses is lower than a February forecast for around 5,870 employees and 800 contractors to be affected.

The precious metal miner said it had concluded talks with stakeholders on restructuring its gold operations following financial losses at the Beatrix 1 and Driefontein 2,6,7,8 shafts during 2018, with only 3,450 jobs now affected.

Reporting by Nqobile Dludla, editing by Louise Heavens

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