Today's Labour News

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postoffice thumb100 BL Premium reports that the SA Post Office (Sapo) business rescue practitioners (BRPs) have paid the first tranche of severance packages to 4,512 retrenched employees earlier than the end of June as initially envisaged.

“All retrenched staff will therefore see the first tranche of their severance packages reflect in their bank accounts from next week. Tranche two and three payments of the severance packages will be made in September and November, respectively, as agreed with labour,” BRP Anoosh Rooplal said on Friday. The figure of 4,512 retrenched workers is lower than the 6,000 originally planned of the total staff complement of 11,038. The number of job cuts was reduced after consultation with unions at the CCMA. The BRPs also advised that Sapo had fully paid up contributions to the Unemployment Insurance Fund, from which retrenched employees could apply for benefits. The SA Revenue Service has been paid its first dividend of 12c in the rand, amounting to about R70m. The retrenchments were made in a bid to right-size the organisation and place it on a more sustainable financial footing as employee costs have, in the past, accounted for 150% of revenue. Sapo entered business rescue in July 2023 after the intervention by government to avoid its liquidation. The total retrenchment package will amount to slightly less than the originally estimated R600m, which will be paid by using the R2.4bn that the Treasury gave the business rescue practitioners in 2023.

  • Read the full original of the report in the above regard by Linda Ensor at BusinessLive (subscriber access only)
  • Lees ook, Poskantoorwerkers kry gouer pakketgeld na afleggings, by Maroela Media

Get other news reports at the SA Labour News home page