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BusinessLive reports that Liberty, SA’s third-largest life insurer, has been talking to staff amid concern that its "organisational redesign" would result in hundreds of job losses.
The company said it had begun formal consultations with its staff, but it was too early to determine the effect on jobs. "We are unable to provide details around job implications at this stage as we are currently engaged in a consultation process and the new organisational design process has not been completed. Our intent regarding this process is to realign our focus and improve the way we work and not about job cuts," the company indicated. Liberty added that the process was "not a retrenchment drive.” Moneyweb has reckoned that more than 800 jobs could be lost. The company, which is 54% owned by Standard Bank, is in the middle of a turnaround strategy, launched in 2017 after the appointment of David Munro as CEO. The organisational refresh would affect only SA operations. Employee sessions began three weeks ago. They will be followed by one-on-one consultations.
- Read this report by Londiwe Buthelezi in full at BusinessLive
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