Dual-listed telecommunications giant Telkom on Monday stated that only 82, or 6%, of the 1 381 employees earmarked for retrenchments are likely to be forcibly retrenched. Telkom group human resources director Oupa Magashula said the company continues to explore other alternatives to retain affected workers.
The JSE edged marginally higher on Thursday mainly on the back of global resources group Anglo American and other resources stocks, as well as the weaker tone of the rand. Near-dated futures, meanwhile, closed flat on the back of weaker international markets and a slightly stronger rand.
Close to 21Â 000 members of the National Union of Metalworkers of South Africa (Numsa) are likely to embark on strike action on July 26 if a meeting between union representatives and car-manufacturer CEOs does not bring results next week Tuesday. This was among several announcements made by Numsa on Thursday.
Dual-listed telecommunications giant Telkom said in a statement on Wednesday that it has provided its recognised unions — the Alliance of Telkom Unions and the Communication Workers Union — with notice of its intention to start consultations next week on the reduction of a possible 1 381 jobs during this financial year.
The JSE edged down on Wednesday due to the rand firming against the United States dollar in quiet trade. The all share index closed 0,73% down, resources fell 1,36% and the gold mining index inched down 0,49%. The stronger rand also pushed near-dated futures to close in negative territory.
The Commission for Employment Equity on Tuesday revealed in a report that the number of senior management positions in the country held by black people remains low despite the Employment Equity Act. Only 22% of senior management positions are held by black people, with black females in particular struggling to make it to senior-management level.
While the Automobile Manufacturers Employers Organisation (Ameo) argued on Wednesday that it is too early to call for a strike in the car industry, the National Union of Metalworkers of South Africa (Numsa) remained adamant that strike action is on the cards before the end of the month. Numsa on Monday declared "war" against Ameo.
Minister of Labour Membathisi Mdladlana on Friday stated that the South African government’s approach to the country’s labour market policy aims to forge a middle road between the extreme advocated by those in favour of unqualified labour-market flexibility or deregulation of the labour market and those advocating a more rigorous market regulation.
South African motor retailers on Friday applauded the increase in passenger vehicle sales, as reported by the National Association of Automobile Manufacturers of South Africa. McCarthy Motor Holdings chairperson Brand Pretorius noted that the strong upsurge in new vehicle sales also continued.
The National Union of Metalworkers of South Africa (Numsa) and the steel producer Iscor are expected to resume crucial wage talks on Monday. The wage negotiations between the two parties will determine the wage increases for all production workers this year.