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SEVERE cost-cutting at South Africa’s part-privatised Telkom could cost thousands of jobs, revolutionary trade union federation Cosatu warned today.
Phone and internet provider Telkom, which employs 20,000 people, is set to embark on a restructuring plan that “will come with a lot of job losses, with thousands of workers facing retrenchments,” Cosatu said.
South Africa owns 39 per cent of the firm, which has faced increasing competition as the government cuts back regulation on privateers.
“Every time companies in South Africa face challenges the first casualties are workers at the low end, while managers who continue to pocket annual bonuses are never affected by the restructuring.”
