Unions met Telkom CEO Sipho Maseko
- Published on 24 Jul 2015
- HR Pulse News Desk
Trade unions met with Telkom CEO Sipho Maseko on Thursday, to discuss the company's plans for its ongoing restructuring and transformation process.
This follows the telecoms company’s decision last week to abandon forced retrenchments. "We had a meeting with Telkom yesterday (Tuesday), where we asked to be briefed about its plans, and we wanted to speak with the CEO, but were told that we must first accept a precondition that voluntary severance packages would be offered to our members before this happens," said Solidarity’s Marius Croucamp.
After the meeting was adjourned, Telkom withdrew its unacceptable precondition and it was agreed that unions could meet with Maseko on Thursday. Yesterday, Telkom said it could not comment on the number of non-unionised workers who have accepted voluntary severance packages, as the process was still ongoing and open until 27 July. Meanwhile, Telkom claims that it has no option but to continue with its business transformation strategy, including cutting costs by at least R1 billion a year, if it is to ensure its sustainability over the long term.
The cost cutting options Telkom is looking at include a wage freeze, which would include the CEO and all management, implementation of reduced or flexible working hours, new methodologies to improve productivity, and potential outsourcing options.
