First Quantum Minerals, the owners of Kasanshi and other mines in Zambia will layoff 10 percent of its work-force starting this month.
And Konkola Copper Mines will also emulate the PF government by not awarding their employees any salary increments this year.
Highly placed sources from Zambia’s copper mining giants have told the Watchdog that First quantum is ready to battle with the PF government by laying-off 10 percent of its work-force beginning this month.
“We are told the lay-offs will be done according to departments as the company is feeling the effects of the economic melt down due to poor policies in Zambia and falling metal prices on the world market,” sources revealed.
The sending of many Zambians in the streets come at a time Michael Sata has been hiding behind his face book page and cheating people that his government has created many jobs.
And it is bad news for KCM employees as well as the copper mining giant will not give their employees any salary increments this year as part of the cost serving measure.
Already the company has cut down on certain incentives such as the traditional lunch for their underground employees.
Sources within the KCM management have revealed that they have since told the trade unions that there will be no salary increment for the year 2014.
Highly placed sources say the mining giant has stated that the company has no money to award employees salary increments and better conditions of service.
Finance Minister Alexander Chikwanda announced in his budget presentation that the PF government has imposed a 2-year wage freeze in order to minimize the huge budget deficit.