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Reuters reports that SA’s automotive industry might have to lay off up to 10% of its workforce because of the national coronavirus lockdown, according to an industry-wide survey conducted by the National Association of Automobile Manufacturers of SA (Naamsa).
The survey, dated 8 April before President Cyril Ramaphosa extended the lockdown by two weeks, estimated that the initial 21-day national lockdown could lead to job losses of between 1% and 10%, which could rise to between 21% and 30% upon an extension until the end of May. The survey was based on a questionnaire that the government issued to a range of industries to gauge the impact of the lockdown or any extension thereof. The Naamsa survey covered the entire automotive industry, which employs about 468,000 people. The vast majority of those jobs are in the retail sector. Manufacturing accounts for about 110,000 of the jobs. The survey also estimated that only some 51% to 60% of the industry's payroll would be paid at the end of April, and between 11% and 20% of small or medium-sized businesses could close.
- Read the full original of the report in the above regard by Emma Rumney at BusinessLive
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