Anglo American Plc is considering cutting jobs at two units in South Africa because of declining platinum-group metal prices and bottlenecks curbing iron ore exports, four people familiar with the situation said.

The company has held talks with the government over the potential reduction in its workforce, the people said, asking not to be identified because the matter hasn’t been made public. Senior government officials asked the company to consider delaying the cuts until after elections likely to take place around May, three of the people said.