Implats’ Zimbabwe unit plans voluntary job cuts to contain costs

Impala Platinum Holdings’ Zimbabwean unit is offering staff voluntary redundancy packages to cut costs because of anemic metal prices. Weak platinum group metal prices are projected to last for the next 12 to 18 months, Zimplats Holdings CEO Alex Mhembere said in a staff circular dated March 18 that was confirmed by the company. The producer is beginning “a voluntary retrenchment exercise for all employees wishing to be considered,” which may “mitigate the need for a compulsory retrenchment,” the circular said.