Lusaka, Zambia (Reuters) – Glencore’s Zambian unit has laid off 4,300 workers, union and company sources said on Tuesday, as the mining and trading company deepens cuts in copper output to support flagging prices.
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Glencore slumps 25 pct as debt fears grow
Shares in commodity giant Glencore plunged 25% after analysts fear lower metal prices.
Glencore to suspend dividend, sell new shares to cut debt
Mining and commodities trading firm Glencore announces it will suspend dividends, sell assets and raise $2.5 billion in a new share issue as it aims to cut its debt by a third to $20 billion by the end of next year.