ANGLO AMERICAN boss Cynthia Carroll is set to unveil a cost-cutting programme this week, which is expected to show that over 10,000 jobs have been slashed at the mining giant over the past six months.
Most of the cuts have been at Anglo Platinum, its subsidiary, where capacity has been cut, and production costs have fallen.
Carroll is under fire as she strives to demonstrate to shareholders that she can deliver value to them, and make big changes at operational levels.
The pressure comes as Anglo is resisting a nil-premium, all-share takeover bid from fellow miner Xstrata. A tie-up between the two would create a £48bn giant to rival companies such as Rio Tinto and BHP.
Anglo’s shareholders are in favour of a merger deal in principle but want better terms than Xstrata proposed in June.