Technology group executives to take a 25% cut and some employees could see their pay reduced by a fifth
Technology group EOH, which is a battling a debt pile that is more than five times its market capitalisation, says it wants to cut executive pay and staff salaries to contend with the Covid-19 pandemic.
The group said it had responsibilities in terms of supporting SA’s information technology infrastructure, with its 5,000 long-term clients including many banks in SA, Eskom, as well as municipalities and government agencies. In February 2019, it hired law firm ENSafrica to review its large, historical licensing contracts with the stateIt has since instructed ENS to begin legal proceedings against alleged perpetrators implicated during the probe.fell to R2.99bn at the end of its six months to end-January, from R4.1bn at the end of the prior comparative period. This compares unfavourably to its R540m market capitalisation on Tuesday morning.
Dental Information Systems, a health-care technology group based in Cape Town, for R250m to AfroCentric.
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