Business Report writes that Group Five is continuing to bleed jobs as the listed construction and engineering group attempts to rightsize and realign its engineering and construction (E&C) business cluster to current market activity levels.  

The total number of employees in the group, including limited duration contract workers, declined by 9% to 8,472 at end-June this year from 9,313 last year - and from 13,659 employees at end-June 2013.  This followed Group Five slashing its number of employees by 23.5% or 2,841 people between June 2015 and June last year.  Of the decline in the year to June this year, 255 jobs were lost due to retrenchments.  Themba Mosai, the chief executive of Group Five, on Tuesday indicated the restructuring and retrenchment process was not yet completed.  “We’re still looking at some units in the business and rationalising to get our overheads to the right level,” he stated.

• Read this report by Roy Cokayne in full at Business Report

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