Anglo American Platinum (Amplats), a platinum producer, is planning to lay off around 3,300 workers as part of its restructuring strategy.
The company initially planned to slash 14,000 jobs in 2012, but scaled back the cuts to 6,000 under a revised business proposal, following pressure from the government and unions.
Currently employing 100,000 staff worldwide, the company said the latest decision to revise cuts was taken after a review with the Department of Mineral Resources.
The company's restructuring programme was 'aimed at restoring the company's profitability, ensuring its long-term sustainability and boosting its competitiveness in the global platinum mining industry'.
In addition, the company announced earlier this month that about 900 corporate and overhead staff will be affected in the restructuring process.
Anglo American Platinum CEO Chris Griffith said: "This comprehensive package of measures that we and our stakeholders have worked so hard to achieve will enable us to restructure Anglo American Platinum, to return the business to a sound footing and to create and sustain employment opportunities into the long-term."
The company is also working with its key stakeholders to co-create a social impact mitigation plan (SIMP).
Under the plan, the company intends to add 1,200 temporary jobs for reclamation at the affected mines over the next six to nine months.
As part of the restructuring plan, Amplats would also reduce its baseline production to between 2.2 million and 2.4 million ounces a year in the short to medium term.
The mining giant also intends to consolidate its Rustenburg operations into three operating mines by integrating the Khuseleka 2 and Khomanani 1 and Khomanani 2 mines into surrounding mines.
Image: Job cuts are a sensitive subject in South Africa, especially with elections on the horizon. Photo: courtesy of Africa/Freedigitalphotos.net.