You are here
Anglo American cuts dividend and 85,000 jobs in 'radical' restructuring
It's OK. The company and all South Africa are happy to sacrifice through commodity price suppression to help maintain living standards in more developed countries.
* * *
By Jon Yeomans
The Telegraph, London
Tuesday, December 8, 2015
Anglo American is to suspend its dividend payouts, cut jobs, and slash capital expenditure in a "radical" restructuring that will transition it to "a very different company."
The FTSE 100 miner, which -- along with its peers -- is battling collapsing commodity prices, will suspend dividends through to the end of the 2016.
Anglo's assets will shrink from around 50 facilities to the "low 20s" by the end of the restructuring and its workforce will drop to around 50,000, from 135,000 now.
It had already announced cuts that would take its headcount down to 92,000 in July, after announcing the sale of its labour-intensive platinum operations in Rustenburg, South Africa. ...
... For the remainder of the report:
http://www.telegraph.co.uk/finance/newsbysector/industry/mining/12038562...
Silver Coins and Rounds with Employee Pricing and Free Shipping
Grab your Silver Starter Kit at cost from Money Metals Exchange, the company named "Precious Metals Dealer of the Year" by industry ratings group Bullion Directory.
Simply go to MoneyMetals.com and type "GATA" in the radio box at the top of the page.
This special silver offer contains 4 ounces of silver coins and rounds in the most popular 1-ounce, half-ounce, and 10th-ounce forms. Claim yours now, because GATA readers get employee pricing and free shipping.
So go to --
-- and type "GATA" in the radio box at the top of the page.
Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:
https://jeffersoncompanies.com/landing/2014-av-powell
Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
