Telkom set to Retrench about 3000 Employees

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Unemployment rate set to go high as State Owned Company, Telkom issues trade unions with notices that it intends to issue section 189 notices to staff in the Openserve, consumer business and wholesale division.

This means that about 3000 employees could be affected.

This also follows an announcement that was made that Massmart Holdings Ltd have started consulting with unions about store closures and jobs cuts, as the South African unit of Walmart Inc. battles to recover from an earnings slump.

About 23 stores are set to be shut down affecting a number of 1,440 employees.

Massmart has a total of almost 450 stores across 13 countries in sub-Saharan Africa and about 48,500 full-time employees.

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