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Business Report writes that hundreds of National Union of Metalworkers of SA (Numsa) members marched to the offices of the Department of Public Enterprises in Pretoria on Friday demanding that government save state-owned arms manufacturer Denel.
The union said it remained dismayed that no financial bailout package had been allocated to Denel, putting at risk thousands of jobs. Noting that the company wanted to reduce working hours and cut salaries by 20%, Numsa spokesperson Phakamile Hlubi said: "We reject this because it's not workers fault that Denel finds itself in this financial crisis. It's because of poor decision making at the highest level, it's because of allegations of corruption and looting at the highest level." Denel made a R1.7 billion loss during the last financial year. The union wants the government to inject no less than R7 billion into the cash-strapped entity.
- Read the full original report by Brenda Masilela at Business Report
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