Samancor Sees Job Cuts Despite Lower Power Price, Union Says

Samancor Chrome Ltd. is pressing ahead with plans to cut jobs even after South Africa’s government and state power utility agreed to lower electricity prices for its smelters, according to the National Union of Mineworkers.

An estimated 2,400 jobs could be eliminated across Samancor’s smelting operations and corporate offices, the labor group said in a statement issued at its Johannesburg headquarters. “The NUM views this decision as a betrayal of the good-faith negotiations aimed at protecting jobs.”