Mining company Anglo American P.L.C., announced today that it will eliminate 19,000 jobs ? or about 10% of its total workforce. The platinum, iron, copper, and diamond mining firm cited several reasons for the layoffs, including falling demand for construction projects, plummeting commodity prices, and decreases in auto production. Anglo also reported less than expected profits and announced it would not pay dividends for 2008. The firm said its 2009 outlook ?remains weak?.
See Alan Cowell, The New York Times, February 19, 2009