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Job Losses

  • If you own investments in these two US sectors… Beware!
  • Isn't it amazing how one man can send shockwaves through global equity markets, just through a tweet. That's what investors have to deal with when it comes to US President Donald Trump and his trade wars. What's worse, there's no telling whether we've already witnessed the highest points of tension between the US and China in the battle over international trade. If precedent has taught... ››› more
  • [20 May 2019]
  • A poultry deal between SA and the US puts 6,500 jobs at risk
  • Over the weekend, a deal between South Africa and the USA over poultry imports threatens the livelihoods of around 6,500 workers in the South African sector. Whilst the agreement will boost imports of poultry into SA, which is seeing a growth in demand, worries over the effects on the domestic poultry industry are growing. Let's take a closer look at what's going on… The SA poultry i... ››› more
  • [10 June 2015]
  • Despite South Africa's economy struggling, employment rises over the second quarter
  • Yesterday, Stats SA released its Quarterly Employment Statistics report for June. The report showed a rise in employment in the formal sector. But the report also revealed job losses in certain key sectors. Let's take a closer look at what the report revealed… Employment grew 1.8% over the second quarter From April to June, the Quarterly Employment Statistics report showed “an o... ››› more
  • [30 September 2014]
  • Lonmin dismisses reports of mass retrenchments
  • It's been a tough year for Lonmin so far. A five-month strike in the platinum sector hit its production. Yesterday, reports speculated that the platinum miner had plans to let go up to a fifth of its workforce. But the CEO of Lonmin, Ben Magara, says this is untrue. He says the miner is concentrating on increasing production. Let's take a closer look at what's going on… Lonmin foc... ››› more
  • [26 August 2014]
  • Unemployment notches higher as the manufacturing sector dumps jobs
  • Earlier today, Stats SA released its data for unemployment covering the second quarter of the year. The data showed that, yet again, the number of people out of work rose. Let's take a closer look at what the data revealed… Unemployment rose to 25.5% from April to June The rate of unemployment in South Africa rose from 25.2% in the first quarter of the year to 25.5% in the second... ››› more
  • [29 July 2014]
  • The metalworkers strike could be nearing an end… but at what cost?
  • The metalworkers strike is now in its fourth week. But it looks like an end is in sight after employers accepted a new wage deal today. The National Union of Metalworkers of South Africa (NUMSA) and other unions have until the end of the week to accept the new deal. But the employers' representatives say the deal comes with a cost. Let's take a closer look… The new wage deal sees wage h... ››› more
  • [22 July 2014]
  • Unions criticise Amplats' decision to sell mines
  • Yesterday, along with the release of its results for the six months to the end of June, Anglo American Platinum (Amplats) revealed its plans to sell of a number of its platinum operations. Workers' unions are not happy with the plans as they anticipate massive job cuts. And a labour expert has warned of the repercussions of the move. Let's take a closer look… Amplats’ selling its min... ››› more
  • [22 July 2014]
  • Unions get ready to fight Telkom over retrenchments
  • Yesterday, the South African Communications Union (SACU) said Telkom planned to cut 9,000 of its 19,000 workforce over the next six months. Both SACU and Solidarity are preparing to take Telkom to court over the possible job losses. Let's take a closer look at what's going on… Telkom refutes claims of 9,000 job losses in six months Telkom denies the SACU’s claim that Telkom plans to let go... ››› more
  • [09 July 2014]
  • Jobs could be on the line as the platinum sector strike nears 20 weeks
  • Tomorrow marks 20 weeks since members of the Association of Mineworkers and Construction Union (AMCU) downed tools at the world's top three platinum producers. And despite numerous interventions and mediators along the way, the strike looks no closer to an end. The situation is edging on desperate. And now job losses could become a reality of the lengthy stoppage. Let's take a closer look at what'... ››› more
  • [11 June 2014]
  • Talks to end the platinum sector strike are to resume, but are job losses now inevitable?
  • The Council for Conciliation, Mediation and Arbitration (CCMA) said it will resume talks with the Association of Mineworkers and Construction Union (AMCU) today. But with the strike already nine weeks in, the damage to the sector is apparent. The lengthy strike makes it look more likely that the platinum producers will move quickly into automating parts of the mining process, removing the need for... ››› more
  • [26 March 2014]
  • Sun International's share price drops on poor trading update
  • Earlier today, Sun International released a trading update covering the six months to the end of December. In the profit and dividend update, the gaming company said it saw a large fall in profits over the period. The company is planning job losses while it restructures its business. Let's take a closer look at what Sun International revealed in its trading update… Sun International said that ... ››› more
  • [24 February 2014]
  • Platinum sector wage talks breakdown as the AMCU remains set on R12,500 a month
  • Yesterday, talks continued between the top three platinum producers and the Association of Mineworkers and Construction Union (AMCU). All hopes were pinned on the parties coming to a deal over wages. But the talks proved fruitless. The AMCU insist they will continue to strike until the platinum producers meet their demands. Let's take a closer look at what happened yesterday… Yesterday, wage n... ››› more
  • [06 February 2014]
  • Pioneer Foods is to axe over 1,000 jobs
  • Earlier today, Pioneer Foods said that it's cutting jobs in a bid to cut costs. The food manufacturer is struggling in an economic climate where many consumers are feeling the strain. Let's take a closer look at what's going on at Pioneer Foods... The CEO of Pioneer Foods, Phil Roux, revealed today that it is to cut jobs “as part of a restructuring process to reduce costs,” reports Fin24. Th... ››› more
  • [14 October 2013]
  • Amplats struggles as strike action bites
  • Anglo American Platinum is feeling the strain as the strike by members of the Association of Mineworkers and Construction Union (AMCU) continues. Production of platinum group metals slumped and a fraction of its workforce is turning up for duty. There is no sign of the strike over planned job cuts coming to an end. Let's take a closer look at what's going on… Today, only 20% of workers turned ... ››› more
  • [03 October 2013]
  • The strike continues at Amplats
  • It's nearly a week since the strike action began and it looks no closer to ending. Members of the Association of Mineworkers and Construction Union (AMCU) downed tools last week in protest over planned job cuts by Anglo American Platinum. Let's take a closer look at what's going on… Since the strike began, Amplats’ production has almost stopped, says Fin24. The AMCU says that “talks will r... ››› more
  • [02 October 2013]
  • The strike continues at Amplats in protest over job cuts
  • Members of the Association of Mineworkers and Construction Union (AMCU) continue to strike against Anglo American Platinum's plan to slash 3,300 jobs. There is tight security at Amplats' mines in Rustenburg as the strike action continues. The National Union of Mineworkers (NUM) is taking a legal stance against the platinum miner. Let's take a closer look at what's going on… Workers affiliated ... ››› more
  • [01 October 2013]
  • Workers at Amplats to strike over planned job cuts
  • At the beginning of the month, Anglo American Platinum (Amplats) announced that it would cut 3,300 jobs in a bid to cut costs. The platinum sector as a whole is facing high costs amidst wage hikes and a struggling platinum price. Now the Association of Mineworkers and Construction Union (AMCU) are to strike from Friday in a protest over the job losses. Let's take a closer look at what's going on... ››› more
  • [25 September 2013]
  • Blackberry's share price plunges as it announces massive job cuts
  • Earlier today, Blackberry announced that it is laying off 40% of its workforce. This announcement comes just a week before the company is to release its second quarter earnings. Let's take a closer look at what's going on with Blackberry… Blackberry is to cut 4,500 jobs and scale back operations as “quarterly sales missed analysts’ estimates by half,” reports Bloomberg. This is a “sign... ››› more
  • [20 September 2013]
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