Trade union Solidarity has launched an attack on Telkom for planning to fire 3,000 employees after paying its executive team more than R100 million. Telkom recently announced that it is planning to cut as many as 3,000 jobs across the company and has served unions with letters regarding the Section 189 process. “Telkom will continue..
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R23 Million for Telkom CEO, R100 million for executive team but 3000 employees are retrenches due to lack of finance
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Another leeching SEO sinks – 3000 Prasa employees possibly without work after the wasteful expenditures carried out by ANC cadres
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Like almost all other state entities, Prasa seems to be tumbling as well, with the possibility that 3,000 security workers will be retrenched to balance their financial situation.
Prasa had to cancel numerous security contracts, which was trailed by the cancellation of various maintenance and repairs contracts.
With the large number of cancellations, it’s evident that the good times of lavish spending are over for now, economists say.
Serious concerns now exist about the safety of Prasa’s services, with far less security, trains and vehicles not serviced or repaired as the country begins to approach the economic precipice.
Unemployment rates rise to 27.6% and remain one of SA’s biggest challenges
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Statistics South Africa announces that unemployment rose by 0.5 percentage points to 27.6% in the first quarter of this year. The figures confirm economists’ presumption that economic growth in the first quarter was negative and unemployment remains one of SA’s biggest challenges.
The SA economy started on a bitter note this year with unemployment rising to 27.6% after being 27.1% in the fourth quarter of 2018. The number of people employed is significantly less than a year ago and declined by 86,000 people to less than 16.3 million people.
By contrast, the number of unemployed increased by 3.7% to 6.3 million and the number of discouraged job seekers by 7.5% to nearly 3 million. This means that nearly 9.2 million South Africans of working age are not in school, do not study further and are not voluntarily unemployed. The figures come from Statistics SA’s quarterly employment survey (QLFS) for the first quarter of 2019, but growth fig
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