Gemstone firm sheds 600 jobs to cut costs

Tanzaniare One workers demonstrate at the mine premises at Mirerani in Simanjiro District Manyara Region, protesting against job cuts announced last year. The company said it retrenched 618 employees to cut cost following drop of business. PHOTO | FILE

What you need to know:

Tanzanite One Ltd, the world’s largest miner of the blueish-hued gemstone in Simanjiro District, Manyara Region, laid-off nearly 50 per cent of its robust 1,200 workforce as part of the plan.

It is owned by Sky Associates and State Mining Corporation (Stamico).