Impala Platinum Considers Reducing Headcount by 2,500

By Carlo MartuscelliFeaturesDow Jones Newswires

Impala Platinum Holdings Ltd. (IMP.JO) is considering reducing the headcount at its Impala Rustenburg operation due to severe financial pressure, the company said on Monday.

The South African platinum mining company said that it expects to let go some 2,500 people in the short term, with further staff reductions possible in the future.

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Low metal prices, higher production costs, and falling productivity has impacted the financial sustainability of the company, said Impala, making the layoffs necessary.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

September 18, 2017 09:56 ET (13:56 GMT)