Strike has 'little effect' on Post Office

South African Post Office. (Duncan Alfreds, Fin24)
South African Post Office. (Duncan Alfreds, Fin24)

Cape Town – The strike by union workers has had a negligible impact on operations at the South African Post Office (Sapo), the state-owned entity announced.

The Communication Workers Union threatened a nationwide strike to demand higher pay for workers and the appointment of permanent employees.

However, the Post Office noted that the strike had a minimal effect on operations.

“Industrial action by one of the unions at the SA Post Office commenced today (05 May 2015). However, it has had negligible impact on the SA Post Office’s operations with business as usual nationally. Less than 1% of Post Office employees are involved in the industrial action and less than 2% of our 2 500 points of presence nationally affected,” the organisation said in a statement.

It added that just four branches in Gauteng were closed as a precautionary measure: Carltonville main branch, Oberholzer (also in Carltonville) Kliptown (Soweto), and Benoni.

READ: Management collapse to blame for Post Office losses

Finances at the Post Office remains strained as the organisation’s management moves to secure loans and return the entity to profit by a self-imposed 2018 deadline.

“As the SA Post Office service and delivery standards continue to recover and as ongoing efforts are made to resolve its difficult financial position, it is critical that all of us hold this balance and maintain stability, especially at this time when we are finalising our plans raising funding,” said Mark Barnes, Post Office chief executive.

Sapo reported a loss of R1.497bn in the 2015 financial year, and a provisional loss of R1.035bn in the current year.

The Auditor General’s report showed irregular expenditure of R576 861 000 and fruitless and wasteful expenditure of R95 056 000 as contributing factors to the dire financial situation.


- Follow Duncan on Twitter

ZAR/USD
17.49
(+0.90)
ZAR/GBP
22.83
(+1.35)
ZAR/EUR
20.54
(+1.13)
ZAR/AUD
12.50
(+1.28)
ZAR/JPY
0.16
(+1.63)
Gold
1914.41
(-5.61)
Silver
24.83
(-14.54)
Platinum
931.00
(-5.42)
Brent Crude
44.95
(+1.33)
Palladium
2081.07
(-6.36)
All Share
57168.24
(+0.72)
Top 40
52831.61
(+0.76)
Financial 15
10215.75
(+3.21)
Industrial 25
75524.64
(+1.14)
Resource 10
58677.82
(-0.46)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 960 votes
It depends on how the funds are used.
74% - 6390 votes
No. We should have gotten the loan elsewhere.
15% - 1317 votes
Vote