Lonmin Layoffs Job Cut: may fire 5500 employees

The news is not good for the employees of Lonmin Corporation, which is reported to be the 3rd largest primary producer of platinum. The recession is taking a toll on all sectors. The latest additon to the list of companies going for layoffs is the Lonmin. It the Lonmin Company, which have decided to go for the layoff. The layoffs are said to be a part of the restructuring exercise at Lonmin.

How many employees may be fired in the Lonmin layoffs?
There could be around 5500 job cuts by the company.

What is the total no. of employees of Lonmin?
Total No. of employees of Lonmin is not known as of now.

Which locations will be affected by the Lonmin Job Cuts?
Marikana and Limpopo operations facility will be affected. As per the news, 4,000 jobs may go at Marikana, and it will lay off around 1,500 workers at its Limpopo operations and place the Baobab shaft on care and maintenance.

When will the Lonmin layoffs happen?
No infomration as of yet, but the company is expected to come out with the details on May 11, when it will declare interim results.

How much savings can be made by the company from the layoffs?
No information is available about the savings to be made.

What is the primary reasons for Lonmin layoffs?
Major reason are the challenging economic conditions. Declining demand, no fresight of economic revival is the also a reason quoted by the company for layoffs.

Any other news about Lonmin layoffs
As per MarketWatch, the company has alread had talks regarding these restructuring plans with the recognized union regarding the layoffs. Hence, it is learnt that layoffs are now inevitable.
   Let's hope that alternative jobs are available to the affected employees of Lonmin Layoffs Job Cut