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BL Premium reports that according to communications minister Stella Ndabeni-Abrahams, Telkom has cut more than three-quarters of the jobs it intended to reduce, thus getting a step closer to saving an estimated R10bn in wage costs.
The partly government-owned company is in the middle of cutting 3,000 jobs as the company contends with falling revenue from its fixed-line phone network. Ndabeni-Abrahams indicated that more than 2,300 Telkom employees had so far chosen to voluntarily leave the company. While expressing her displeasure at the retrenchments, Ndabeni-Abrahams said that the government was aware that Telkom was dealing with technological advances that could affect any company. The telecoms company said it would use its cash reserves to pay for the cost of the restructuring, which would amount to R1.5bn. Telkom also said it was in different stages of consultation with the Communication Workers Union, Fedusa, Solidarity and the Information Communications and Technology Union.
- Read the full original of the report in the above regard by Mudiwa Gavaza at BusinessLive (paywall access only)
- Read too, Moody’s downgrades Telkom in line with SA’s sovereign rating, at BusinessLive
Get other news reports at the SA Labour News home page