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.

DisChemBusinessLive reports that according to Dis-Chem Pharmacies, a strike by employees that lasted nearly five months shaved up to R76.4m off its profits in the year to end-February.  

CEO Ivan Saltzman said in a statement:  “Unfortunately, the industrial action which began mid-November last year heavily impacted the group’s performance.  The demands by the union were unreasonable considering the economic climate and the nature of the industry in which we operate.”  The strike resulted in direct costs of R50.4m, partly because of increased security and legal costs, and indirect costs of between R22.3m and R26m.  With the strike now over, the company is focused on developing “a productive employer-employee relationship, improving wholesale productivity levels and cost efficiency, as well as optimising the levels of stock-holding in the group, which the industrial action necessitated”.  The retailer’s headline earnings in the financial year rose 7.4% to R734.7m.  In the 10 weeks to 10 May 2019, group revenue grew by 12%.

  • Read the full original of Nick Hedley’s report in the above regard at BusinessLive

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