Impala Platinum says restructuring could cut 3,900 jobs in South Africa

Impala Platinum (Implats) said on Friday the restructuring of its South African operations could lead to 3,900 job losses as it battles to contain costs amid low metal prices.

"Cost-saving, capital-deferment and voluntary labour-reduction initiatives to date have not sufficiently offset the impact of persistently lower prices," Implats CEO Nico Muller said in a statement.

"This has significantly undermined Implats' financial position, which in turn threatens future job security for the entire workforce," he added.

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