Retrenchment numbers cut at acid giant
Foskor lets go of 30, instead of 100, employees in a 'restructuring exercise'
LOCAL phosphates producer Foskor last week bid goodbye to 30 employees based at its Richards Bay acid division plant.
But this came as bittersweet news, bearing in mind the company’s initial plans in November to lay off 100 workers.
The cost-cutting exercise was implemented after Foskor experienced ‘persistent financial difficulties’ brought on by tough trading conditions as global demand weakened and prices fell for the commodity last year.
Confirming the retrenchments, Foskor sent a statement to the Zululand Observer on Tuesday:
‘Consultation over the restructuring exercise that commenced at the end of November was concluded at the end of February.
‘The consultation process was conducted under the auspices of the Commission for Conciliation, Mediation and Arbitration (CCMA) wherein all representative trade unions participated.
‘A total of 100 positions were initially earmarked for redundancy at Foskor’s Acid Division.
‘In the end, only 30 employees left the services of Foskor.
‘Of this number, 25 applied for voluntary severance packages (VSP); four were finalised by way of the company’s medical separation policy and one employee resigned to pursue other opportunities elsewhere.’
Foskor added that should any vacancies arise in the next 12 months, these individuals will be given preferential treatment during its recruitment and selection processes.
They will be entitled to a portable skills training programme of their choice to the value of R10 000, which will be paid for by the company.
