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dArKeR Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-24-04 02:07 AM
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Iscor to axe 1 300 jobs - SA
Johannesburg, South Africa

23 April 2004 13:13

Iscor, Africa's largest iron and steel producer, plans to lay off more than 1300 workers by the end of the year in a bid to cut costs, a company spokesperson said on Friday.

To remain competitive internationally and increased input costs are the reasons given by Iscor's group executive for corporate affairs, Phaldie Kalam, for the move.

"Despite massive global price increases in the industry, this has been offset by the strong rand, which means in dollar terms our input costs increased by 24%," he said.
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