Telkom makes progress in restructuring with more than 1,000 job cuts
by Loni Prinsloo,
2016-04-05 08:31:30.0
TELKOM, which is cutting costs to counter a decline in its fixed-line business, has accepted 1,184 applications for voluntary redundancy, reducing its workforce by about 8.5%.
The operator, which is still 39% government-owned, made the offer to staff after failed negotiations with unions to eliminate 6,000 jobs by July.
Telkom received 1,649 applications to leave, according to a letter from CEO Sipho Maseko seen by Bloomberg.
“On my recent national roadshow with all our staff, I described these next few months as the last steep hill at the end of a long and hard marathon,” Mr Maseko said in th…
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