Denel Land Systems has informed its staff that they will not receive their April salaries, a situation the struggling company attributes to extremely low revenue and a worsening liquidity position.
”It is with great regret to inform you that we will not be able to honour our contractual obligations with regards to the payment of salaries on the 25 April 2021. We will continue engaging all relevant stakeholders to try and avert this unfortunate reality,” DLS management told staff on Thursday. Denel has blamed the Covid-19-enforced national lockdown, which further severely impacted its operations, leading to a significant decline in productivity between May and July last year and the inability to pay full salaries and third party payments and statutory obligations such as medical aid.Denel spokesperson Pam Malinda told Independent Media yesterday that the non-payment of salaries this month only applied to DLS and not the entire Denel.
Sad.
That's Pravin Gordhan mandate to collapse all SOE's so as to privatize them 🤔
Denel is an inherent mess from Apartheid era, once again we have senior management on First World remuneration while semi-skilled are on the poverty line.
The same employees will probably still vote ANC that's responsible for their problems
Denel is damaged to the core. It will take years to fix it
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