State-owned Denel unable to pay full salaries to staff | IOL Business Report

Denel said that they could only pay employees 85% of their salaries for the work done in the month of June.

Du Toit says the management of Denel acknowledges the inconvenience caused by the decision, in particular the late communication. However, at the time the decision was made, the company had no alternative but to go this route. “Due to ongoing liquidity challenges we are now faced with the unfortunate reality that the company is not in a position to fulfil the 100% salary obligation for June 2019,” Du Toit said.

busrep Management could take one for the team.

Canada Canada Latest News, Canada Canada Headlines

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

State capture: How a cash-in-transit business laundered moneyAsset Movement Financial Services transferred millions in cash that may have assisted with money laundering. Jacob Zuma and the Guptas started money laundering so it's nothing new Proof one doesn't need to be clever to make money Black Monopoly Capital strikes again! 😏🤨🙄🤔🤷🏻‍♂️
Source: eNCA - 🏆 49. / 51 Read more »

State capture: Joburg cash-in-transit company used to launder moneyAsset Movement Financial Services (AMFS) branded itself as a cash-in-transit company but was instead used to launder money, the state capture commission heard on Monday. This StateCaptureInquiry is Starting To Annoy Me, Actually When Are Police Going To Start To Make Arrests, This Shit Has Been Going On For a Long Time Now And No One Has Been Arrested or Charged, This Shit is a Big Waste 😏😏😏
Source: TimesLIVE - 🏆 28. / 59 Read more »

State capture: Joburg cash-in-transit company used to launder moneyAsset Movement Financial Services (AMFS) branded itself as a cash-in-transit company but was instead used to launder money, the state capture commission heard on Monday. This is ANC for you,corrupt to the core. Yoh it's getting 🔥🧦🤢
Source: SowetanLIVE - 🏆 13. / 63 Read more »