Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

jseBusinessLive reports that belt-tightening at JSE Limited, the company which operates the Johannesburg bourse, could lead to 14% of its staff being retrenched by the end of 2017.  

The JSE plans to cut its overheads by R170m by 2019.  JSE CEO Nicky Newton-King indicated on in a statement on Friday that, as part of this two-year cost-cutting programme, it was starting a consultation process in terms of section 189A of the Labour Relations Act which might lead to the retrenchment of about 60 of its full-time staff.  Besides retrenching staff, the JSE intends to meet its R170m cost-cutting goal by reducing its information technology costs by at least R70m over two years.

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