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.
Fin24 reports that the Competition Tribunal has given the go-ahead to a takeover of SA's biggest dairy company, Clover, by Tel Aviv-based Milco.
The R4.8bn takeover deal is subject to a range of conditions, including employment, local procurement and information sharing conditions. In its statement on Wednesday, the Tribunal said it initially had concerns about the impact on employment. A total of 516 employees had been set to be retrenched as a result of the completion of Clover's Project Sencillo, a project unrelated to the merger aimed at better utilisation of assets. Clover said had managed to reduce net job losses to a maximum of 277 positions. This was partly because of Milco’s undertaking to create 550 new permanent jobs over a period of five years through the expansion of Clover's Masakhane Project, which involves servicing underserved markets such as general traders and spaza shops. Other employment-related conditions as agreed to include that the merged entity will not retrench any employee in SA as a result of the merger (excluding Project Sencillo) and reasonable relocation and training costs to be contributed for affected employees that successfully apply for vacant or new positions in Project Masakhane. Cosatu, the Food and Allied Workers Union and the General Industrial Workers Union of SA (Giwusa) have expressed their opposition to the deal.
- Read the full original of the report in the above regard at Fin24
Get other news reports at the SA Labour News home page