Telkom to axe 15% of its workforce due to weak economy and tech transition

More South Africans will be joining the unemployment line soon. As if unemployment isn't high enough, Telkom has decided to slash its workforce to significantly cut back on expenses. Read more 👇Telkom Retrenchments Unemployment

Telkom said that a mixture of investing more in its post-paid business to create more predictable revenue streams and increased power cuts impacted costs,The group hopes to raise R1 billion before the end of the 2023 financial year by selling different devices to financial institutions.

, Telkom has already implemented several cost-cutting initiatives and hopes to see the benefits in its 2024 financial year.For many citizens, all roads from SA's hardships lead back to the ruling party."I am sure it inherited useless cadres from its SOE days and now can shed the waste?"

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

brieflyza /  🏆 10. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Telkom may retrench 15% of its workforce in latest round | BusinessSA's third biggest mobile operator Telkom said on Tuesday it will begin workplace consultations on internal restructuring that is expected to affect 15% of its workforce. | News24_Business
Read more »

Telkom retrenchments to impact 15% of staffTelkom has announced it will initiate retrenchment processes.
Read more »

Telkom to reduce workforce by 15%The company will enter a formal consultation process with relevant stakeholders in regarding the restructuring of certain operations.
Read more »

Telkom to cut up to 15% of its workforce - TechCentralTelkom is again about to go through a painful retrenchments programme as it fights to contain costs in a tough macroeconomic environment.
Read more »

Retrenchments looming at Telkom - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Mobile network operator, Telkom, has announced its intention to begin a formal retrenchment process that could affect 15% of its workforce.
Read more »

Bad news for USB-C on iPhone 15Apple plans to include a “Made for iPhone” authenticator chip in this year’s iPhone, the first expected to come with a USB-C port. That could mean owners won’t be able to use any third-party USB-C cable to charge their phones or transfer data at optimal speeds.
Read more »