Head Topics

South African Post Office Silent on Job Cuts

  • 📰 ITWeb
  • ⏱ Reading Time:
  • 33 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 51%

Business News

South African Post Office,Job Cuts,Business Rescue Plan

Communications minister Mondli Gungubele has not disclosed the number of jobs to be cut by the South African Post Office (SAPO) as part of its business rescue plan. However, it has been reported that 4,700 SAPO employees have already received retrenchment letters, and plans are in place to retrench a total of 6,000 employees. The government aims to save the entity and ensure business continuity.

Communicationsminister Mondli Gungubele has remained mum on the number of jobs to be shed by the South African Post Office as part of its ongoing business rescue plan .indicating that 4 700 SAPO employees have been issued retrenchment letters.plans to retrench 6 000 employees at the bankrupt state-owned enterprise as part of the BRP adopted by majority creditors.

Asked to clarify the number of jobs that will be lost by SAPO employees, Gungubele said the business rescue practitioners are better placed to provide the exact number.“A business rescue plan is a statutory plan and under the control of the practitioners. In the plan adopted in December, a number was indicated but there is a negotiation with the workers, where we’ve been encouraging that everything be done to reduce that number.

Gungubele said, as announced by the minister of finance during the 2023 budget speech, SAPO has been allocated R2.4 billion to assist in bringing stability. No further budget allocation was given in 2024.

Source: News Formal (newsformal.com)

South African Post Office Job Cuts Business Rescue Plan Retrenchment Government

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 45. 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.

WATCH OUT for this new South African Post Office scam in 2024The state entity is in business rescue with the vultures circling, so beware this latest South African Post Office scam in 2024.
Source: TheSAnews - 🏆 25. / 59 Read more »

South African Post Office sends 4,700 retrenchment lettersRoughly 4,700 retrenchment letters have been sent to workers of the South African Post Office (SAPO), and the Business Rescue Practitioners are looking to the government for more money to pay out retrenchment packages.
Source: BusinessTechSA - 🏆 24. / 61 Read more »

South African athletes shine bright at African GamesA South African athlete received gold in the women's 400m hurdles during the final day of athletics on Friday, 22 March 2024 at the African Games in Accra, Ghana, according to World Athletics.
Source: CapeTownEtc - 🏆 17. / 63 Read more »

African Gold Extra Virgin Olive Oil Celebrates South African Flavours in New CookbookSouth Africa Today, News source, provides breaking news on South Africa, world, Africa, sport, travel and more.
Source: SATodayNews - 🏆 44. / 51 Read more »

South Africa: Zulu Culture and Sexual Orientation - South African Study Reveals the Health Costs of StigmaAnalysis - Same-sex relationships are legal in South Africa and protected by the constitution. Unfair discrimination on the basis of sexual orientation is against the law.
Source: allafrica - 🏆 1. / 99 Read more »

South Africa: Finance Minister to Determine NHI Funding After Bill Signing - South African News BriefsFinance Minister to Determine NHI Funding After Bill Signing
Source: allafrica - 🏆 1. / 99 Read more »