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

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State-owned Denel unable to pay full salaries to staff busrep

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.

 

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