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transnetANA reports that the United National Transport Union (UNTU) is considering a final wage offer made by parastatal Transnet, but has not excluded industrial action should its members reject the offer.  

Transnet shocked the union on Friday by firstly putting a very low opening offer on the negotiation table at the Transnet bargaining council and by then replacing it with a final wage offer after labour declined to accept, UNTU general secretary Steve Harris said in a statement.  Both of the Transnet offers were informed by the fact that rating agency S&P Global downgraded Transnet on 28 November to full junk status.  Harris said the company argued that the downgrade changed its financial position drastically from the position on 30 October when the company announced that its profits had soared to R37.1bn.  Transnet’s final wage offer amounted to a 6.5% increase for 2018; 7.25% for 2019; 8% for 2020; no retrenchments for the next three years; and no increases in any other allowances, including medical aid and housing allowances.  UNTU now has until 15 January to present this offer to its members for a mandate to accept or decline it.  If members do not accept the offer, Untu would have to declare a dispute and refer the dispute to conciliation prior to any possible strike action.

  • Read this report in full at Business Report
  • Read too, UNTU deliberating with members on new Transnet wage offer, at EWN
  • Read UNTU’s press statement in this regard at SA Labour News

Get other news reports at the SA Labour News home page