Global mining giant Anglo American announced a "radical" restructuring of the firm that will slash its workforce by almost two-thirds, as commodity prices crash on world markets, AFP reports.
Some of the jobs will be transferred via asset sales, although Anglo will also write off billions of dollars owing to the closure of loss-making mines.
Anglo's announcements, as part of its investor day, come as sector rival Rio Tinto said it would slash its spending next year owing to sliding metals prices.