Cosatu vows to fight layoffs in 2009

The Congress of South African Trade Unions (Cosatu) has vowed to fight an anticipated flurry of retrenchments in the new year as companies come to blows with the global economic recession.

In a briefing at its headquarters on Monday, Cosatu, which is part of the ruling tripartite alliance, said it will never abandon its primary role as an independent defender of workers’ rights ahead of what is expected to be the toughest elections for the African National Congress.

“In the aftermath of the world recession, it will be more vital than ever to have a strong, militant workers’ movement to defend our class from the threat of even higher unemployment and falling living standards,” the federation said.

Locally, companies are already being pinched by the global economic crisis with companies from the mining, auto and steel sectors offloading workers as demand for products slump, raising fears that the local unemployment rate could rise.

South Africa’s exact unemployment rate is in contention, with unions pegging it at about 40% and government putting it at 23%. — I-Net Bridge

We make it make sense

If this story helped you navigate your world, subscribe to the M&G today for just R30 for the first three months

Subscribers get access to all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”

Tiisetso Motsoeneng
Tiisetso Motsoeneng works from Johannesburg. Deputy Editor: Business Day in Johannesburg, home to Africa’s deepest capital market. Tiisetso Motsoeneng has over 285 followers on Twitter.

Related stories

WELCOME TO YOUR M&G

Already a subscriber? Sign in here

Advertising

Latest stories

SAA sale is above board, says Gordhan

The public enterprises minister has said there have been deliberate attempts to undermine the transaction, which is aimed at rehabilitating the airline

Stellenbosch faculty abhors incident of student urinating on a peer’s...

The Faculty of Arts and Social Sciences Stellenbosch University says the past cannot be undone but it will work to resist its legacy

More sabotage at Eskom as Hendrina power station cable is...

Public Enterprises Minister Pravin Gordhan says the saboteurs are ‘obviously’ people working at facility

OPINION | What will power Mthethwa’s erection?

Since Eskom’s a no-go, perhaps our Minister of Monuments’ R22-m flag will be powered on arrogance and self-belief alone
Advertising

press releases

Loading latest Press Releases…
×