Today's Labour News

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sabcBL Premium reports that the SA Broadcasting Corporation’s (SABC’s) loss-making streak shows no sign of ending with the embattled public broadcaster reporting a R511m loss for the 2019/2020 financial year.  

The broadcaster was blasted by the auditor-general for incurring irregular expenditure of at least R5.4bn, which led to it being slapped with a qualified audit opinion for the second year running.  The SABC is facing acute financial difficulties and resolved last week to retrench staff despite objections from MPs, the government and labour.  The retrenchments will affect 400 workers.  The broadcaster has a staggering wage bill of more than R3bn a year for its 3,000 permanent employees.  It received a R3.2bn bailout from the government late in 2019, which it used to pay off most of its debt and invest in content.  Workers embarked on a silent protest on Monday, arguing that the restructuring plan was imposed by management through a procedurally unfair and unjust process.  SABC CEO Madoda Mxakwe commented that the operating model continued to present challenges relating to disproportionate employee compensation costs, high signal distribution costs and a lack of required skills for a digitally enabled broadcasting environment.

  • Read the full original of the report in the above regard by Bekezela Phakathi at BusinessLive (paywall access only)


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