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SABC Suspends Retrenchments - Adding To Bailout Risks

SOUTH AFRICA
  • SABC extends the suspension of retrenchment proceedings a further 30 days to enable negotiations with unions to continue - SABC news
  • Extension of negotiations should be seen as negative with SOEs hamstrung in making necessary restructurings to trim the public sector wage bill.
  • Increased likelihood of unions winning and cost cutting measures not being introduced (adds to bailout risks on top of R3.2bn already allocated)
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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