With 2020 starting off on a fraught economic footing, ordinary South Africans have not been spared: in the first month alone, several companies have already announced their intention to retrench staff in line with Section 189 of the Labour Relations Act.
Solidarity CEO Dirk Hermann said in the statement that there was no evidence that cutting thousands of jobs could secure Telkom’s financial stability and that evidence pointed to such a move potentially having the opposite effect.
Telkom says the success of its takeover bid of Cell C depends on the ability of the mobile operator to complete its financial restructuring.
Its headline earnings will fall by between 30% and 40%.
Telkom announced on Wednesday that 96% of its fixed line customers got improved communication technology services after they were upgraded to wireless prepaid service.
The Telkom Group announced its group provisional results for the year ended March 31, 2019 on Monday.
Telkom sees an acquisition as one way to grow its mobile-phone business as it looks to boost profit and attract higher-paying customers.
Prices on Samsung, Apple and Huawei devices have all been dropped, and there are some good data deals to be had on Black Friday 2018.
Vodacom and Telkom have signed a long-term, multi-billion rand deal that will see Telkom phasing out its roaming agreement with MTN and obtaining roaming and facilities leasing services from Vodacom.
Vodacom has the most expensive standard voice tariffs for prepaid calls, according to a price analysis report released by Icasa.
The National Union of Metalworkers of South Africa said in a statement released on Thursday that the retrenchment process that Telkom initiated last week was an attack on workers and that the union would work with other unions to fight it.
Telkom has issued a notice to cut as many as 3 000 jobs - nearly a third of its workforce - across multiple departments, as the company looks to streamline its operations amid falling earnings and changing market conditions.
Discussions are at a 'preliminary stage'
In an opinion piece, Telkom Group CEO Sipho Maseko has slammed Treasury's proposed reforms in the ICT sector, particularly the roll-out of spectrum, as being 'ill-thought-out'.
Telkom is one of the leading stocks on the JSE at the moment and is currently giving a short-term pullback to set up another buying opportunity.
Zimbabwe is courting SA investors in the telecoms sector, Finance and Economic Development Minister Mthuli Ncube said on Tuesday.
Telkom SA is considering making an offer to buy a majority stake in Cell C that would lead to a combination of South Africa’s third and fourth largest mobile-phone companies, according to people familiar with the matter.
Telkom's shareholder earnings are down 3.3% to 288c for the six months ended September 30, due to the costs of voluntary severance and early retirement packages which came to R288m as well as the related tax impact of R80m.
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Telkom, Superbalist, Pick 'n Pay, TakeALot, Telkom, Game, and H&M have all announced that they’ll be offering Black Friday deals in South Africa on November 23.
Cape TownO'Dwyer Personnel
Atlantic SeaboardShimansky Jewellers
DurbanvilleZaPOP Media (Pty) LtdR1 000.00 Per Month
R 5 500 000
R 2 495 000
R 2 395 000
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