Anglo American Layoffs Job Cut: fires 19000 employees

The news is not good for the employees of Anglo American PLC Corporation, the firm in the business of mining. The recession is taking a toll on all sectors. The latest additon to the list of companies going for layoffs is the Anglo American. No one seems to be shielded from the effect of recession. It the Anglo American Company, which have decided to go for the layoff. Not only that, the company is also learnt to have suspended the payment of dividend due to mounting losses

How many employees will be fired in the Anglo American layoffs?
There could be around 19000 job cuts by the company. That constitutes around 10% of the total Anglo American workforce.

What is the total no. of employees of Anglo American?
Anglo American has a total employee strength of 190,000.

When will the Anglo American layoffs happen?
Though the dates of layoff are not certain, it is learnt that the layoffs will happen as soon as possible.

Which location will be affected by the layoffs?
No confirm news is available about the locations affected by the layoff decision of Anglo American.

How will the company go ahead with the layoff program?
The layoffs will be implemented through layoffs, natural attrition and scaling back contractor arrangements.

What is the primary reasons for Anglo American layoffs?
Major reason are the bad financial results of the company, especially in contrast to what it had in the first half of the year. Declining demand, no fresight of economic revival is the main reason quoted by the company for layoffs.

Any previous layoffs by the company?
No such news is available as of now.

Any other news about Anglo American layoffs
As per "The breadth and severity of the global economic downturn and its impact on growth rates in key sectors and economies are difficult to overstate," said Chief Executive Cynthia Carroll. The company had previously announced that it was slashing capital expenditure this year by more than half, to $4.5 billion. Operating profit in the base metals division — including copper, nickel and zinc — were down 42 percent in 2008, the company said. Base metals contributed 45 percent of Anglo American's operating profit in 2007. Operating profit for platinum declined 17 percent
Let's hope that alternative jobs are available to the affected employees of Anglo American Layoffs Job Cut