Archive of News
Group Five retrenches following restructuring of loss-making cluster
- Published on 4 May 2017
- HR Pulse News Desk
In a statement on Wednesday, the company said most of its changes were aimed at unlocking shareholder value and addressing mainly the loss-making Engineering & Construction (E&C) cluster. The E&C Cluster has now been split into Construction: South Africa, Construction: Rest of Africa and engineer, procure and construct (EPC) sector businesses.
This change, the company indicated, has led to the implementation of voluntary and forced retrenchments, which are set to conclude at the end of June. Group Five did not indicate how many people were affected by the retrenchments. The South African and Rest of Africa Construction businesses will be led by the executive director of Construction, Mark Humphreys, while Peter de Vries will lead the EPC / sector-driven business.
Source: SA Labour News
