FEARS GROW AS SA ECONOMY BLEEDS JOBS AMID COVID-19
About eight million people returned to work at the beginning of the month when the lockdown was eased to level 3.
Kgomotso Modise
Eyewitness News
JOHANNESBURG – With the country in week 12 of the lockdown – there are concerns that the South African economy has now started bleeding jobs due to the COVID-19 pandemic.
About eight million people returned to work at the beginning of the month when the lockdown was eased to level 3.
Even more South Africans should start work again from Saturday morning as industries like the beauty sector and restaurants are allowed to reopen from Friday evening.
But there are fears that it could be a little too late to save some jobs and companies.
It’s been a week of retrenchment announcements.
Sasol this week announced that it is considering job cuts as part of their business revamp plan.
On Thursday, the South African Broadcasting Corporation (SABC) revealed that it had served 600 employees with retrenchment notices.
On Friday morning, Cell C announced that it has reached a difficult decision and initiated discussions with junior management and semi-skilled staff to implement a restructuring of its operations.
Neva Makgetla from the Trade and Industrial Policy Strategies said these companies may not be the last.
While Stats SA is expected to announce the first quarter employment figures soon, Treasury said the country’s unemployment rate could reach 40% by the end of the year.
Kgomotso Modise
Eyewitness News
JOHANNESBURG – With the country in week 12 of the lockdown – there are concerns that the South African economy has now started bleeding jobs due to the COVID-19 pandemic.
About eight million people returned to work at the beginning of the month when the lockdown was eased to level 3.
Even more South Africans should start work again from Saturday morning as industries like the beauty sector and restaurants are allowed to reopen from Friday evening.
But there are fears that it could be a little too late to save some jobs and companies.
It’s been a week of retrenchment announcements.
Sasol this week announced that it is considering job cuts as part of their business revamp plan.
On Thursday, the South African Broadcasting Corporation (SABC) revealed that it had served 600 employees with retrenchment notices.
On Friday morning, Cell C announced that it has reached a difficult decision and initiated discussions with junior management and semi-skilled staff to implement a restructuring of its operations.
Neva Makgetla from the Trade and Industrial Policy Strategies said these companies may not be the last.
While Stats SA is expected to announce the first quarter employment figures soon, Treasury said the country’s unemployment rate could reach 40% by the end of the year.
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