Glencore has announced plans to cut around 380 jobs at its Optimum Coal mine in South Africa following the ending of some operations there.
In January, the company announced its decision to close the open-cut thermal coal operations of its subsidiary Optimum Coal Mines citing weak prices.
When the plan was announced, more than 1,000 jobs were at risk. However, the number has since decreased to between 600 and 700.
When the announcement was made, the National Union of Mineworkers (NUM) of South Africa threatened to take legal action against the company to prevent the job cuts.
Reuters quoted Glencore saying in a statement: "Through various engagements and company initiatives, the impact has been significantly mitigated. Optimum is now proceeding with the closure of these operations which will result in the retrenchment of approximately 380 employees."
The company said that around 250 employees selected voluntary severance packages and 96 were transferred to other operations.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
The Optimum coal mining complex had an estimated workforce of 3,700 employees in 2014.
Global diversified natural resource company Glencore produces and markets over 90 commodities and its operations comprise of over 150 mining and metallurgical sites.