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More job losses loom, despite Ramaphosa’s promises

Business News 5 months ago

Job cuts are a result of the years of graft under Jacob Zuma, one analyst says, while another says SA needs a radical overhaul of its governance and policy framework.


14 Feb 2020
PREMIUM!
More job losses loom, despite Ramaphosa’s promises

Unemployment rate. Picture: Twitter

Even as President Cyril Ramaphosa was promising – during his State of the Nation address (Sona) last night – concrete action to tackle unemployment, thousands of people around the country were facing imminent retrenchments. And, if Ramaphosa’s promises don’t become reality and the economy continues its downward trajectory, many more thousands could find themselves on the street this year. The looming closure of Tongaat Hulett’s sugar mill in Darnall, which will cost the jobs of nearly 400 workers, is just one example. Others include Eskom, South African Breweries (SAB), Educor, Aspen and Sibanye-Stillwater, which are all reported to be retrenching...

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