Survé's management proposes pension fund disbandment at Independent Newspapers

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article
Dr. Iqbal Survé
Dr. Iqbal Survé
Verskaf

Dr Iqbal Survé's media group, Independent Newspapers, moved to curb the impact of salary cuts as a result of the Covid-19 pandemic on staff by reducing the amount by which staff salaries of various grade would be cut as well as proposing that pension and provident funds be disbanded.

This is according to an internal staff memo at Independent Media, which Fin24 has seen. Mainstream news media outlets, faced a difficult five months during the pandemic, as lockdown restrictions meant businesses had less money to spend on advertising. Independent Newspapers owns the Star, Cape Argus and Sunday Independent.

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.75
-1.0%
Rand - Pound
20.26
-0.0%
Rand - Euro
17.29
-0.0%
Rand - Aus dollar
10.72
-0.0%
Rand - Yen
0.13
-0.0%
Gold
1,754.62
0.0%
Silver
22.41
0.0%
Palladium
2,019.00
0.0%
Platinum
944.00
0.0%
Brent Crude
75.34
-0.4%
Top 40
56,605
-0.9%
All Share
62,864
-0.7%
Resource 10
56,497
-3.9%
Industrial 25
81,170
+1.0%
Financial 15
14,018
+0.5%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
What potential restrictions on unvaccinated South Africans may make the biggest difference to public health, the economy?
Please select an option Oops! Something went wrong, please try again later.
Results
Limited access to restaurants and bars
9% - 43 votes
Limited access to shopping centres
17% - 85 votes
Limited access to live events, including sport matches and festivals
28% - 140 votes
Workplace vaccine mandates
46% - 226 votes
Vote