Today's Labour News

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MassmartFin24 reports that Massmart has become the second SA retailer to announce possible store closures in 2020, a move that could affect up to 1,440 employees.  

This comes just days after Edcon announced the closure of its Edgars store in Rosebank Mall, citing underperformance.  Massmart, which owns Game, DionWired and Makro among other brands, announced on Monday that it was consulting with its employees about the potential closure of 34 stores.  It said it has already begun talks under section 189 of the Labour Relations Act.  The announcement came three months after Mitchell Slape took over as Massmart's CEO in September with a brief to turn around the retailer.  The company indicated that it had recently conducted a store optimisation project that highlighted a number of underperforming stores in its portfolio.  The retailer, which has 23 DionWired stores in the SA region, already closed two outlets in the first half of 2019.  Massmart indicated on Monday it would advise shareholders about its progress on the store closures at a later stage, once the retrenchment process consultations were complete.

  • Read the full original of the report in the above regard by Londiwe Buthelezi at Fin24
  • Read too, Massmart’s possible downsizing was expected, at Moneyweb

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