African Bank CEO appoints new executives and accelerates retrenchments of 1 200 workers
The lender says it is looking to cut costs.
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The lender says it is looking to cut costs.
The Kwazi shaft restructure will affect 781 employees and 333 contractor employees.
It is unclear how many employees will be affected by the retrenchments.
The mining giant previously said it would support employees affected by the suspension of operations at the Venetia mine.
But group confirms this is limited to four of its smaller, marginal casino properties.
At least 600 employees have accepted voluntary severance packages.
Retrenchments are not completely off the table.
Wesizwe Platinum says Bakubung Platinum Mine's temporary shutdown is intended to allow for meaningful engagement during retrenchment talks.
Construction, hospitality in the spotlight.
Employees in retail stores and distribution centres will not be affected by retrenchments.
The retrenchments follow uninspiring revenue growth in FY2025 and recent key executive changes
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Company says the proposal is a viable alternative to forced retrenchments.
Transalloys issues section 189 notice.
The Wonderkop and Boshoek smelters will be placed on care and maintenance from 1 January unless a solution is found before then.