The CEO of the Steel & Engineering Industries Federation of South Africa is quoted as saying he feels the federation “should be congratulated” for pulling off its July 2021-June 2024 agreement with the trade unions.
As Bisseker points out, this provides that the total cost to company of employing an entry-level worker will now be R78 an hour when the compulsory benefits are included. Extending this agreement to cover the roughly 9,000 nonfederated companies in the industry will force many to radically reduce or cancel their plans to expand, or to retrench workers or even close their doors, thus adding further to South Africa’s already alarmingly high levels of unemployment.
Seifsa’s CEO must be well aware of this. However, he states that, had he asked the boss of the industry’s largest trade union, Numsa, to give nonfederated companies “a free ride”, the Numsa head would have laughed. So who is now calling the shots in this once flourishing industry?
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LETTER: Who’s the boss in the steel sector?Who is now calling the shots in the once flourishing steel industry — Seifsa or Numsa?
Source: FinancialMail - 🏆 20. / 63 Read more »