The proposed job cuts will see Telkom letting go of about a fifth of its entire workforce.
“What we’re proposing is as opposed …leaving them out in the cold,” said Telkom spokesperson, Mooketsi Mocumi.But the move has been good for Telkom's share price, which increased by almost 8-percent on Wednesday, just hours after it announced the retrenchments.
Telkom has recently been struggling to keep investor confidence strong amid a decline in fixed-line customers, lower revenue and increasing debt. Next week, unions and Telkom will have consultations with the CCMA on who will mediate the restructuring process
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.
Unions outraged over Telkom planned retrenchmentsThe proposed job cuts will see Telkom letting go of about a fifth of its entire workforce.
Read more »
Telkom rises 8% after saying it may cut a fifth of its workforceTelkom is battling with declining revenue from traditional fixed-line services
Read more »
Telkom to shed 3000 jobs as mobile surges | IOL Business ReportParastatal Telkom intends to axe 3 000 of its workers as it grapples with increasing debt and a decline in the fixed-voice market in a tight economy. busrep
Read more »
Union says 3,000 jobs on the line in Telkom retrenchment plansJob cuts affect nearly a third of workforce at Telkom
Read more »
Telkom reveals plans to cut jobsJSE-listed telecoms company Telkom SA has served unions with letters regarding planned job cuts, a company spokesman said on Wednesday. “Out of respect for our employees, we will share information once we have engaged further with our employees and unions,” Mooketsi Mocumi said in a WhatsApp response to questions.
Read more »