Eskom must cut 10,000 jobs to get bailouts

[Herr der Verboten]

Eskom must cut 10,000 jobs to get bailouts

South Africa’s government plans to restructure state power utility Eskom Holdings SOC Ltd.’s debt before elections in 2024, and will only provide additional support if the company sells assets and cuts jobs, Finance Minister Enoch Godongwana said.

Eskom, which supplies almost all of South Africa’s power, has R392 billion ($26 billion) of debt.

The utility has said the liabilities need to be cut to R200 billion for it to be sustainable and accept support pledged by rich nations to help reduce South Africa’s dependence on coal and cut carbon emissions.

[Bloomberg]

/pisses against the wind.

Continues as before.

That showed them!

 

[eg2505]

so its all just empty words? just to gather votes at the ANC elections later this year?

 

[TheChamp]

so its all just empty words? just to gather votes at the ANC elections later this year?

Why would they get votes for proposing job cuts?

 

[rvZA]

Job cuts not going to happen. What will happen though, 100% guaranteed, is the bailout.

 

[Tman543]

No you guys don't understand this.

Eskom won't cut any jobs at all, what will happen is one of the subsidiaries will magically get 10000 people bigger, and "Eskom" will have less employees.

Problem solved, and Unions happy.

Exactly this. They will just shift the numbers to the restructured business unit...

Anyway why can't Eskom run properly with 10 000 "excess" employees

 

[Mike Hoxbig]

It may not necessarily be a fight with the unions.

There's also a lot of useless middle management bloat contributing to the wage bill. You don't get an average salary of R700k+ across the company through unionised workers alone...

 

[Pegasus]

 

[ToxicBunny]

It may not necessarily be a fight with the unions.

There's also a lot of useless middle management bloat contributing to the wage bill. You don't get an average salary of R700k+ across the company through unionised workers alone...

Just watch it, those middle management will be part of the Unions as well I reckon.

 

[Mike Hoxbig]

Just watch it, those middle management will be part of the Unions as well I reckon.

Wouldn't be surprised, but it's an easier political battle to win than letting go of the working class...

 

[ENuffAlready]

Q: How may Eskom employees does it take to peel a banana?
A: They have absolutely no idea, but probably 3 times more than the current staff complement.

 

[Martin 007]

No more money time to change!

 

[Gary Waterworth]

It may not necessarily be a fight with the unions.

There's also a lot of useless middle management bloat contributing to the wage bill. You don't get an average salary of R700k+ across the company through unionised workers alone...

R700k does not mean middle management there. Eskom's salaries like a lot of gov are over inflated and way above the private sector

 

[MightyQuin]

Why would they get votes for proposing job cuts?

Read post #6 again..........

 

[TheChamp]

Read post #6 again..........

I was responding to post #22.

 

[MightyQuin]

I was responding to post #22.

And he was obviously referring to Post #6

 

[TheChamp]

And he was obviously referring to Post #6

I was obviously responding to post #22.

 

[MightyQuin]

I was obviously responding to post #22.

And your response was obviously out of context.