EXXARO PROPOSED RESTRUCTURE MAY LEAD TO RETRENCHMENTS

Diversified South African-based resources group Exxaro Resources Limited (Exxaro) reports that it intends to restructure the group to improve productivity and efficiency as well as streamline its organisational structures in the corporate and support services environment.

The group has informed its respective trade unions that it is contemplating retrenchments as the proposed restructure, if a final decision is taken in future to implement same, could lead to between 192 and 565 retrenchments from corporate office and operations.

A process of consultation with all affected employees was initiated on the 18th of April with all relevant stakeholders.

“We are doing everything possible to avoid and limit the impact on our employees and the consultation process will examine all options. The future sustainability of the group remains a pressing need in the context of the challenging business environment in which we operate and we must ensure we have a streamlined and competitive business,” said Mxolisi Mgojo, Exxaro’s chief executive officer.

Exxaro currently employs about 7300 people.

Ends

Editor’s note:
Exxaro is one of the largest South African based diversified resources companies, with interests in the coal, titanium dioxide, ferrous and renewable energy commodities. www.exxaro.com

Enquiries:
Mzila Mthenjane
Executive Head, Strategy & Stakeholder Engagement
Tel: +27 12 307 7393
Mobile: +27 83 417 6375
Email: Mzila.mthenjane@exxaro.com

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