Unions to meet to discuss plan of action over rampant retrenchments

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Two main labour union federations are this week meeting with their affiliates to discuss a plan of action in response to looming retrenchments by major companies that would leave thousands of employees jobless.

About 10 big companies which are reportedly planning to retrench thousands of workers have been trending on social media.

They include broadcasting heavyweight MultiChoice, Tiso Blackstar, Eskom, PPC and Standard Bank.

Mining and labour analyst Mamokgethi Molopyane says…

“This looks bad but it’s not surprising, I think at home in South Africa we tend to be shocked by retrenchments when they are happening but when you look at past 18-months in terms of how the economy has performed compared to other economies that has the same characteristics such as Brazil, you would realise that we are at the weaker end of it.”

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