Denel finally pays employees salaries

State-owned arms manufacturer Denel has fully paid outstanding salaries of R318m to its staff up to end-July and has payment plans in place with the SA Revenue Service for PAYE and the pension fund to settle its obligations, the group’s chair, Gloria Serobe, announced on Thursday.

Some staff have not been paid salaries for more than two years while others have only received a percentage of their salaries, contributing to a loss of critical skills...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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