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Business Report writes that a total of 657 existing jobs will be on the line at Clover Industries in the next two years if the R4.8 billion merger between the dairy company and Israel-based Milco is approved by the Competition Tribunal.
These were the final figures submitted by Clover to the tribunal on Monday as the group made additional submissions in the hearing of its proposed merger with Milco. In July, the Competition Commission recommended that the proposed merger be approved with conditions, especially those relating to employment and local procurement. Milco announced in February that it intended to acquire the entire issued share capital of Clover. But the acquisition is opposed by the Food and Allied Workers Union (Fawu) and the General Industry Workers Union (Giwusa), which respectively have 2,600 and 2,000 members at Clover. Clover’s Anton Pretorius said the merger would affect a number of permanent workers, contract workers, and workers under labour brokers. Other jobs would also be shed as a result of early retirement and natural attrition, as the firm progressed with its optimisation and consolidation of factories. Giwusa’s John Appolis argued that the actual number of job losses would be much higher than those presented by Clover. “At least 806 families are going to be destroyed and there is no mitigation by creation of employment opportunities,” Appolis claimed.
- Read the full original of the report in the above regard by Siphelele Dludla at Business Report
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