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.
Reuters reports that state-owned arms manufacturer Denel did not pay senior staff their salaries in full in September, the company confirmed on Friday.
The company has been grappling with a liquidity crunch after becoming embroiled in corruption scandals during former president Jacob Zuma’s scandal-plagued tenure. “In September management salaries were not paid in full,” Denel spokeswoman Vuyelwa Qinga indicated, adding the cuts were due to “liquidity challenges”. Executives were paid 80% of their salaries while specialists were paid 85%. Qinga said regular employees were paid in full and that the company was working with the government to find a solution to its funding challenges. In April, President Cyril Ramaphosa oversaw the appointment of a new board at Denel and the company subsequently suspended its chief financial officer over misconduct allegations. According to labour unions, it is critical that Denel receives financial support – either via additional government guarantees or a capital injection.
- Read this report by Alexander Winning in full at Moneyweb
Get other news reports at the SA Labour News home page