GFIELDS: 4,949 0 (0.00%)
Gold Fields suffering under poor management - S.Africa mines minister
JOHANNESBURG, Aug 16 (Reuters) - 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."
(Reporting by Joe Brock
Editing by Tiisetso Motsoeneng)
First Published: 2018-08-16 08:37:50
Updated 2018-08-16 08:48:51
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