Glencore's Zambian Unit Plans to Cut More Than 3,800 Jobs: Government Sources
Due to lower copper prices and a shortage of electricity in Africa, mining companies have found themselves struggling. Mopani Copper Mines (MCM), Glencore's Zambian unit, will lay off 3,800 workers as a result of high costs and low metal prices. The company had originally intended to lay off 4,300 employees. Over the next 18 months, Glencore plans to invest $1 billion in MCM in hopes of improving efficiency.
See "Glencore's Zambian Unit Plans to Cut More Than 3,800 Jobs: Government Sources", September 23, 2015