The management of JSE-listed gold miner, AngloGold Ashanti (AngloGold), says it is considering ways to restore staff morale, which “may” have been hit by the wide-range restructure the firm conducted last year.
This is according to the chairman, Sipho Pityana, who added that this will happen while the company re-engineers work systems aimed at enhancing productiveness in the company.
As soon as the company appointed its new CEO, Srinivasan Venkat, last year, the firm decided to take away $500 million from the company’s operating costs in the next year and a half.
Venkat was appointed soon after AngloGold’s former CEO, Mark Cutifani, left to head Anglo American, the fifth biggest mining group in the world.
This prompted a 40% decrease in staff numbers at head office and regional offices.
“While absolutely necessary, this was a difficult and painful process. AngloGold Ashanti will ensure that its responsibilities as a good corporate citizen to all stakeholders and the physical environment are not compromised,” Pityana said in the company’s latest annual report. (VENTURES AFRICA)