Massive retrenchments at MTN SA

Heard that a number of IT contractors have their contracts cancelled with 30th September - it is puzzling that large corporates like MTN (and previously SBSA, Nedbank etc) always start to go into a mass-retrenchment in Q4, which is clearly the worst time for employees to find another job.

Makes me think how this will affect Afrihost operations as well as remaining competitive, considering that many new broadband alternatives (just as Bitco) have recently surfaced. Even Telkom has started to become worried, and their sales staff are knocking on doors over weekends.
 
Something must be seriously wrong as my signal and service degraded heavily in the last few weeks and i am not the only one complaining it seems.
 
Heard that a number of IT contractors have their contracts cancelled with 30th September - it is puzzling that large corporates like MTN (and previously SBSA, Nedbank etc) always start to go into a mass-retrenchment in Q4, which is clearly the worst time for employees to find another job.
Ja.
My last working day at UTi was 15 December.
 
Good luck to all my mates at MTN... hang in there and stay positive!!
 
That's a LOT of middle management telecoms people out of work in one go...
 
So sad that the MTN I worked for and what it has become is 2 completely different beings... Be positive guys, you will get lots of exceptional jobs out there ;)
 
That's a LOT of middle management telecoms people out of work in one go...

What I heard, this is only the beginning. Departments will then be consolidated and more staff will then be asked to leave - this process will take up to December. One of the guys said "... it feels like an iBurst retrenchment all over". Hope that the staff affected will be able to find alternative jobs soon, although it does not look good in the industry with the many hiring freezes across the big telco's.
 
A sign that there is finally real competition in the market? No more glut!
 
Has Telkom's retrenchment one started yet?
Yes. The first group of management leave at the end of August and the next bunch at the end of September.

MTN are now at the notification phase. They have served the affected management employees with a Section 189 notice and will now engage in negotiations with them to minimise job losses and the process to determine who exits the company and with what benefits. This should take around two months in total.
 
And here I'm wondering WTF my MTN shares fell with 434c today . :mad:
 
The right balance

In any organisation, there is ONE person who knows what is going on, is conscientious, works hard, and can fix anything that goes wrong. This person must be fired.
 
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And the CEO earned a total package of R48mil last year? :eek:

No he didn't. You are thinking of the Group CEO. Group did well

The MTN SA CEO, Zunaid Bulbulia earned
"MTN South Africa lead Zunaid Bulbulia, who took up the position in June 2013, was paid a total R7.6 million off a base salary of R2.05 million.

Bulbulia was not awarded a bonus in 2013, and earned a further R4.9 million through share gains."


The options dated back years and he cashed them in
He got zero bonus.
So annual earnings was R2.05M

Long term options cashed in R4.9M
 
I guess sometimes the big telcos are not the best place to work. Both Telkom& Mtn in the same period? All the best to the affected
 
To those I know, and those I do not know.

All the best for what the future my bring. Hang in there, and be strong.

Now fix up that CV and start looking.
 
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