Gold Fields’ plans to cut jobs in South Africa to reduce costs is taking the “easy way out” and avoids tackling the real issue of poor management, mining minister Gwede Mantashe said on Thursday.

Gold Fields, which is due to report half-year results later on Thursday, said this week it would cut 1,100 permanent jobs at its struggling South Deep mine, sending its shares plummeting.

“Gold Fields is sitting on the second biggest gold deposits in a mine in the world,” Mantashe told Reuters. “Going for job cuts is the easy way out. The real problem is poor management.”






Additional Reading?

Request Free Copy