Anglo American to cut workforce by 85000 in restructuring – BBC News
Shares in mining firm Anglo American have fallen to a record low as the company said it would sell huge chunks of its business and shrink its workforce by nearly two-thirds.
The changes will see the workforce drop by 85,000, from 135,000 to 50,000.
The group has been forced to restructure after the collapse of commodity prices slashed profits.
Anglo will also suspend dividend payments for a year, and consolidate from six to three businesses.
All the world’s big mining companies have seen profits tumble al…
Read the full article at: http://www.bbc.com/news/business-35038076