SABC News reports that employees of the Gupta-owned business empire have vowed to continue their services despite the likelihood of not receiving their salaries in June.
Tuesday was D-Day for the Gupta-owned Oakbay Investments to make alternative arrangements following the decision by four major banks to cut ties with the controversial family. Oakbay has warned that the move poses a threat to the existence of the multi- billion rand company. It was given more than four weeks to find an alternative banking solution, but both the company and the banks are keeping mum about whether the banks have now executed their decision to cut all ties. According to employees, though, nothing has materialized thus far.
- Read this report by Mbongeni Muthwa in full at SABC News
Get other news reports at the SA Labour News home page
This 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.