Eskom to blame for mining, retail retrenchments, says union | IOL Business Report

DURBAN - Trade union UASA said on Tuesday that increased retrenchments were because of the energy instability plaguing South Africa, among other factors.

UASA spokesperson Stanford Mazhindu further said the union was "deeply saddened" at the announcement of possible retrenchments at Merafe Resources/Glencore Alloys’ Rustenburg smelter, and at Samancor. Various factors had contributed to the need for retrenchments, he said, including but not limited to the energy instability currently plaguing South Africa, and the weakened economy.

"The devastating effect this will have on unemployment goes without saying. South Africa is currently sitting with a never before seen unemployment rate of 29%, with youth unemployment estimated to be around 52% as of December 2019." Mazhindu said UASA received a notice from Samancor in terms of the Labour Relations Act and would be actively engaged in the section 189 process with the aim of minimising job losses and ensuring business continuity.

Am yet to hear of a union blaming itself for any retrenchments

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Government tries to secure R2bn in funding for struggling SAA | IOL Business ReportSouth Africa’s Public Enterprises Ministry said on Sunday it was talking with the Treasury to raise funds to rescue South African Airways. busrep Of course they will bail them out. Did pravingordhan think we were fooled by the 'Sunday deadline' rubbish. Pure incompetence is the reason for the bailout, nothing else. We are a failed state and this is proof positive. CyrilRamaphosa is offered new routes but ignores them
Source: IOL - 🏆 46. / 51 Read more »

BEE, land, business: ANC lekgotla promises more interventions to boost economy | IOL NewsThe ANC lekgotla has agreed to wide-ranging efforts they hope will steer the country out one of the worst economic periods on record. Doubling down on crucial policies destined to harm the economy, but designed to appeal to his gullible people. Definition of cronyism’s worst features. Using the same tools (fools) that got us into the situation is insanity!
Source: IOL - 🏆 46. / 51 Read more »