Telkom business to split as uneasy workers mull prospects
As of January this year, Telkom had 18,384 employees. Yet within the next two months – according to the major affected union, Solidarity — the telecoms company plans to shed 7,800 jobs.
Reorganization
Lonmin opens talks to cut another 3 500 jobs
Platinum producer Lonmin is in talks with unions and employees to cut 3,500 jobs at its mines in South Africa.
Eskom exec suspensions: With R23bn on the line, it’s the right thing
Treasury is poised to write Eskom cheques totalling R23bn. Its highly respected technocrats will want to know the money isn’t going into a bottomless pit.
Edcon says plans to cut head office jobs
South African retailer Edcon launched a cost-cutting plan that may include jobs cuts, it said on Tuesday, as the debt-burdened company tries to save money to pay down debt.
MTN plans to lay off up to 578 workers
Africa’s biggest telecommunications provider MTN plans to issue dismissal notices by May 1 to up to 578 people at its South African enterprise business unit, the Solidarity union said on Wednesday.
African Bank: debt holders can transfer to new “good bank”
Failed South African lender African Bank will offer senior debt holders the chance to exchange old bonds for bond instruments to be created in a new “good bank”, curators said on Wednesday.
Andrew Hall’s fabled oil trader Phibro reaches end of the road
Phibro, the storied energy trading firm run by famed oil investor Andrew Hall, is winding down in its current form, laying off some U.S. employees and pursuing a sale of some overseas operations.
Bleak Christmas for Aurora workers
Aurora workers face another bleak Christmas, the Congress of SA Trade Unions (Cosatu) in the North West said on Tuesday
Mercantile launches a Private Bank. For entrepreneurs only.
Mercantile Bank has just launched a Private Bank that holds its very own form of differentiation – offering private banking exclusively to entrepreneurs. CE Karl Kumbier joined Alec Hogg in the CNBC Africa studios to unpack the bank’s new innovation.
Transaction Capital expects sustainable growth after hefty restructure
Transaction Capital published results today declaring a 35% drop in headline earnings per share and a 36% drop in headline earnings. Alec Hogg was joined on CNBC Africa’s Power Lunch by David Hurwitz, CEO of Transaction Capital to discuss the results.