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Cape Argus reports that employees at Tupperware will be laid off after the iconic US food storage container company announced it would be closing operations in SA at the end of December 2024.
This after the company filed for bankruptcy in September due to declining sales and increasingly dire financial circumstances. Party Products, a company formed by the lenders, bought certain assets of Tupperware to help the kitchenware company emerge from bankruptcy, with a focus only on the US, Canada, Mexico, Brazil, China, Korea, India and Malaysia. Head of commercial at Tupperware, Justin Korte, advised: “It now appears that Tupperware South Africa will not be included in the license being assumed by the purchaser and will not be receiving equipment to continue manufacturing products.” Under the circumstances, Korte said the prudent approach was to reduce costs, and consequently, the company had issued Voluntary Severance Packages across the board, with services to terminate on 31 December 2024. Thereafter, any remaining staff who had not accepted the VSP, would be laid off from 1 January 2025. Economist Ulrich Joubert said one of the biggest challenges that Tupperware faced was failing to adjust to the new trends in the consumer market.
- Read the full original of the report in the above regard by Sinenhlanhla Masilela at Cape Argus
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