MultiChoice To Use R12 Billion Cash Pile to Fund Growth, Weather COVID-19 Storm

Africa’s pay-tv giant MultiChoice is planning to utilise its R11.8 billion cash pile to fund growth and the weather the COVID-19 pandemic storm. MultiChoice, which...

Latest Posts

Making Wi-Fi 6 Smarter With Huawei 5G-Powered Smart Antenna Technology

Wireless communications and signal processing expert Dr Doron Ezri, the Wi-Fi CTO of Data Communications Product Line at Huawei, told an audience of industry...

Prosus’ PayU Spend R15.8 Billion in FinTech Acquisition Trail

PayU, the payments and FinTech business of Prosus, has invested a staggering $1 billion (R15.8 billion) on FinTech and mergers & acquisitions (M&A) globally...

Bob van Dijk has R65 Billion in Cash. The Boss of Prosus is Hunting for Buys

There is no doubt that Bob van Dijk, the CEO of Prosus, wants to make a big acquisition. The Dutch arm of South African...

SA’s Largest Online Retailer Takealot.com Revenues Defy Pandemic

South Africa’s largest online retailer, Takealot.com, reported on Monday a 41% jump in revenue to $238 million (R3.7 billion) in the six-months to end 30...

Telkom to retrench 554 workers

 

Telkom, Africa’s biggest fixed-line telephone group, is planning to retrench 554 workers as part of its exercise to cut costs in the business and make it more profitable in order to compete aggressively in the market. By Staff Writer


Trade union Solidarity announced in a statement on Friday that Telkom had issued a notice of retrenchment to trade union on Thursday.

“In the retrenchment notice Telkom states that around 300 jobs at its Corporate Office will be affected by the process. It is also intended to transfer 254 employees to another company in compliance with section 197 of the Labour Relations Act,” Solidarity Deputy General Secretary Marius Croucamp said in a statement.

 

“This is the tenth consecutive year that Telkom is downsizing jobs by means of either retrenchments or offering severance packages.”

As part of its measures to contain costs, Telkom last year initiated a wage freeze across the board, Voluntary severance packages (VSPs) and voluntary early retirement packages (VERPs).

A number of workers took the packages.

 

 

Latest Posts

Making Wi-Fi 6 Smarter With Huawei 5G-Powered Smart Antenna Technology

Wireless communications and signal processing expert Dr Doron Ezri, the Wi-Fi CTO of Data Communications Product Line at Huawei, told an audience of industry...

Prosus’ PayU Spend R15.8 Billion in FinTech Acquisition Trail

PayU, the payments and FinTech business of Prosus, has invested a staggering $1 billion (R15.8 billion) on FinTech and mergers & acquisitions (M&A) globally...

Bob van Dijk has R65 Billion in Cash. The Boss of Prosus is Hunting for Buys

There is no doubt that Bob van Dijk, the CEO of Prosus, wants to make a big acquisition. The Dutch arm of South African...

SA’s Largest Online Retailer Takealot.com Revenues Defy Pandemic

South Africa’s largest online retailer, Takealot.com, reported on Monday a 41% jump in revenue to $238 million (R3.7 billion) in the six-months to end 30...

Don't Miss

The Differences Between Digital Signatures And Electronic Signatures

Numerous businesses have adopted the paperless policy by taking measures to stay ahead of time, especially during the COVID-19 pandemic and its effect on...

Forex Brokers in South Africa

With the advancements in technology that have been witnessed in the last few years, forex trading has been made more accessible than ever before....

The Hospital of the Future – 5G and IoT Inspired

Health and social care in the UK can benefit from the roll-out of 5G and Internet of Things (IoT) technologies, according to new research from...

The New MINI Countryman Is Equipped With A SIM Card

The new MINI Countryman: always online and up-to-date thanks to intelligent networking, according to the carmaker. "The progressive character of the new MINI Countryman is...

How to Find Your Place in the Mobile Gaming Boom

2020 has seen a mobile gaming boom the likes of which has never been experienced before; the industry is now responsible for 51% of...

Stay in touch

To be updated with all the latest news, offers and special announcements.