Local retrenchments not scaring off foreign investor SEW-Eurodrive

As Telkom’s IT subsidiary BCX says it is looking to cut about 5% of its workforce, could we see more such job cuts in the rest of the industry due to Covid-19?

As a result of the lockdown and an economy expected to contract 8% in 2020, BCX said its clients have been unable to meet financial responsibilities. An increase in the number of requests for alternative payment options, and a general reduction in IT spend and reprioritising of business requirements, have been some of the challenges.

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