BREAKING NEWS

BREAKING NEWS

Big jobs cuts at Anglo American

Now Reading:

Big jobs cuts at Anglo American

Text size Aa Aa

Mining group Anglo American is to lay off ten percent of its workforce – 19,000 people – as it posted a one percent fall in profit and scrapped last year’s final dividend for stockholders.

The firm, which is the world’s dominant platinum producer and fourth-largest iron ore exporter, saw its shares tumble. Chief Executive Cynthia Carroll said: “The economic outlook remains weak, with continuing volatility and downward pressure on commodity prices.”