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Retrenchment

  • 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]
  • The strike ends as Amplats reduces job cuts
  • After striking for nearly two weeks, members of the Association of Mineworkers and Construction Union (AMCU) will return to work tomorrow. Anglo American Platinum and the AMCU have finally reached a compromise after long discussions with the union. Let's take a closer look at what happened… After “protest action against job cuts” lasting nearly two week, striking workers will “return to ... ››› more
  • [10 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]
  • Amplats is to give notice to 3,300 workers on Monday
  • In a bid to return to profitability, Anglo American Platinum will give one months' notice to 3,300 workers on Monday. A further 1,500 jobs will go through voluntary redundancies. Let's take a closer look at the ongoing restructuring at Amplats… Earlier today, Amplats said “it would shed around 4,800 jobs through its restructuring process,” reports IOL. Of that number, 3,300 will be lay-off... ››› more
  • [30 August 2013]
  • Amplats is to slash nearly 7,000 jobs
  • Anglo American Platinum released news today that nearly 1,000 white collar jobs are included in its planned job cuts. But the number of job losses isn't as high as the miner initially said. Let's take a closer look at what's going on… Earlier today, Amplats said that it wanted “to cut almost 7,000 jobs,” reports Fin24. That’s up from the 6,000 jobs it was looking to cut a few months ago.... ››› more
  • [19 August 2013]
  • Pick n Pay to slash jobs in a bit to cut costs
  • Pick n Pay is the latest company to announce job losses. Reportedly the company said it was taking cost cutting measures to reduce operational costs. Let's take a closer look at what's going on… South Africa’s second largest food retailer, Pick n Pay, says “it may cut management positions as it seeks to reduce operating costs,” reports IOL. This follows its reports of a fall in profits o... ››› more
  • [08 August 2013]
  • Adcock Ingram's share price rallies on news of buyout offer
  • South Africa's second largest pharmaceuticals company, Adcock Ingram, received an offer to buy-out all shares at a 14% premium to yesterday's closing price. Here's why CFR Pharmaceuticals, a Chilean based drug company, has offered Adcock Ingram R73.51 a share… Pharmaceuticals giant, Adcock Ingram’s shares jumped “after it announced receipt of a cash and share offer for its entire share cap... ››› more
  • [03 July 2013]
  • AMCU is trying to take down the mining industry - watch out for these miners…
  • The Association of Mineworkers and Construction Union (AMCU) is at it again. They're demanding a minimum wage increase of 100%. As if NUM's 60% increase wasn't enough right? Well, now they're making this a game of 'tug-o-war'… The winner is the union that's able to claim the largest wage increase for its members. And obviously - the winner get's the other unions members as ... ››› more
  • [26 June 2013]
  • Yet another strike is on the cards and this time, you have Telkom to blame
  • Ongoing worker wage demands and strikes are major factors affecting the economic outlook for South Africa the latest Monetary Policy Review revealed yesterday. Now, despite continuing negotiations with its workers' union, Telkom regaled on aspects of a new proposal before the union even had a chance to consider it. Looks like we're set to see more strikes this week… After revising a recent off... ››› more
  • [05 June 2013]
  • Producer price inflation figures ease - but it's not all good news…
  • Consumers who've been battling with ever-rising inflation breathed a sigh of relief yesterday, when Statistics SA said that producer price inflation (PPI) had eased to 5.4% in April, compared to 5.7% in March. But don't forget the rand's weakened drastically this month, which could undo this progress…   Statistics SA announced on Thursday that the annual percentage change in the PPI for ... ››› more
  • [31 May 2013]
  • Explained: The relationship between unions' wage demands, strikes and the rand
  • Last week, the media reported that the rand was ‘softer' on the back of mining labour tension. This week, they're reporting that wage demands have sent the rand tumbling to a new four-year low, despite the fact that the strikes at Amplats and Lonmin have been called off… Here's why investors are still being cautious of investing in the mining industry.   There were further strike fears... ››› more
  • [21 May 2013]
  • "Impala platinum just crashed through R100, is this a good time to buy?"
  • I've heard this question so many times this past week… Platinum shares have come crashing down. Some of them are at lows last seen in the year 2000. Now I'm sure Impala platinum looks attractive at R99. But it also looked attractive at R230, R165 and R125 on its way down… And all the while I heard people say things like "How much further can it fall?" So are they right this time? --------... ››› more
  • [16 May 2013]
  • Talk of job losses after the fire at Sibanye Gold is GOOD news for gold investments!
  • There are fears that Sibanye Gold's Beatrix mine near Welkom will go under. This is because there's talk of retrenchments as the mine remains unprofitable following a fire underground almost two months ago. Investors have panic on the news and have started to pull out of their gold investments. Here's why you shouldn't follow suit…   An underground fire at Sibanye Gold's Beatrix mine... ››› more
  • [10 April 2013]
  • The platinum sector’s real troubles are only beginning…
  • Everyone thought Marikana was bad… And I agree it was. But things are getting worse for the platinum sector. This week Anglo Platinum announced that it’s planning to close down four shafts and retrench 14,000 employees. Unions are planning to bring platinum miners to their knees Union leaders have already been quoted as saying, “If they put any shaft on care and maintenance, a... ››› more
  • [21 January 2013]
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