Today's Labour News

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groupfiveBusiness Report writes that the jobs bloodbath in SA’s beleaguered construction sector is continuing, with construction and engineering company Group Five reducing its headcount by about 1,000 people in the past year, including the retrenchment of 600 permanent employees.  

The group said on Tuesday that its headcount fell 20% during the period from about 8,000 people.  It explained that the reduction included employees related to the construction businesses, engineering, procurement and construction (EPC) and head office rather than contract workers.  CE Themba Mosai said the group’s developments and investments and operations and maintenance clusters would become a future focal point, while decreasing the focus on the EPC and construction clusters.  He indicated that they had started consultations in the EPC business related to restructuring for current workloads, and it was “unfortunate that further retrenchments would have to happen in this business”.  He was unable to provide any indication of how many people would have to be retrenched in the EPC business.  Mosai added that the South African construction business was being right-sized and was expected to return to profitability within the next financial year.

  • Read this report by Roy Cokayne in full at IOL News

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