Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Mining / Quarrying
Mining And Quarrying
Mining Of Metal Ores
07 - Mining of metal ores

19,000 jobs
Number of planned job losses
Job loss
Announcement Date
23 February 2009
Employment effect (start)
Foreseen end date

Description

The global mining giant Anglo American plans to cut 19,000 jobs (a tenth of its workforce) out of 190,000 worldwide due to the sharp falls in commodity prices brought on by a contraction in the global economy. The firm said that the last year´s profit dropped by 30 % to USD 5.2 billion. As of February 2009, there is no information on when the job losses will be implemented by.


Sources

  • 23 February 2009: Hospodárske noviny

Citation

Eurofound (2009), Anglo American, Internal restructuring in World, factsheet number 68311, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68311.