US Edition Lonmin, the world's largest third-largest platinum producer, will axe up to 5,500 staff at it South African mines as it scales back production as the price of the precious metal tumbles.
Platinum producers have been hard hit by the collapse in the demand for new cars as the metal is used in catalytic converters.
Lonmin chief executive Ian Farmer said: "With the current backdrop of challenging economic conditions, these [job cuts] are an important milestone in our objective of restructuring the company."
The company said full details on the total number of job losses and the costs of the restructuring would be announced in May.
Steel-maker Evraz Group said 1,982 workers could be laid off by April as it reduces production in the face of the financial crisis. Evraz, which is part-owned by billionaire Roman Abramovich, said the cuts would be at its plants in the Ural Mountains.
Nokia, the world's largest mobile phone maker, said its plans to cut 1,000 staff were part of a restructuring programme. Last month it reported a 69pc drop in fourth quarter profits as demand for new mobile phones collapses.