SA companies in laying off spree

28 June 2019
Parmalat SA has joined the growing list of companies embarking on restructuring that could leave hundreds of its workers in the distribution section of the company jobless.
The company did not answer direct questions on the number of workers likely to be affected, the Sowetan newspaper reported on Wednesday.
A string of other companies have also announced retrenchment plans.
Last week, MultiChoice announced that it would lay off more than 2,000 workers at its call centres and walk-in customer service centres.
In March, Standard Bank announced its plans to cut up to 1,200 jobs and close 91 branches as part of efforts to digitise its retail and business banking.
In the same month, Absa Group announced restructuring which would place 827 jobs at risk.
There have also been major retrenchments in the mining sector.
Platinum producer Lonmin last month announced that it would be laying off 4,100 workers from six mines that have run out of commercially viable ore.
Tongaat Hulett also announced a restructuring process, which would cut 5,000 jobs.
Economist Lumkile Mondi said the retrenchments were partly a result of an economic crisis facing the country, which government seemed to have no plan for.-timeslive


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