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Post Office snatched out of liquidation and into business rescue

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The North Gauteng High Court has ruled on the government’s application to take the struggling South African Post Office out of provisional liquidation.

The North Gauteng High Court has placed the South African Post Office in business rescue.

“To hold a view that the taxpayers’ losses must be cut and that SA Post Office must be finally liquidated is simplistic and does not account for the intricate relationships and responsibilities that exist,” stated Van der Schyff. “The harsh reality is that the facts point to that SA Post Office’s workforce needs to be extensively curtailed for the [it] to survive,” stated Van der Schyff.that it appears government plans to cut 7,000 jobs, saving over R1.3 billion in salaries annually.

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 /  🏆 11. in KR
 

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