A major miner is cutting jobs after reporting losses and more evidence of a carbon emissions cover up is coming out of Volkswagen.
Anglo American Will Cut Jobs, Reports a Loss
Anglo American PLC on Friday reported a $3 billion loss for the first half of 2015 and said it would cut 53,000 jobs over the next few years, as plunging commodity prices continue to wreak havoc on the bottom lines of miners worldwide.
Chief Executive Mark Cutifani said in a presentation to investors that the company would slash about 35% of its total workforce over the next several years, including jobs in operations the miner plans to sell.
Evidence That Volkswagen Hid Emissions Data Mounts
Long before Volkswagen AG’s emissions-cheating scandal erupted, the German auto giant withheld information from regulators in the US, according to internal documents.
In 2004, the car maker’s US environmental-compliance employees alerted their bosses in Germany that they needed to tell US regulators about a faulty emissions sensor that required replacement in dozens of Audi vehicles brought to dealerships with a faulty sensor. The executives’ response? Don’t.