Telkom CEO should not get R23 million and fire employees - Union

Daruk

Honorary Master
Joined
Jul 18, 2008
Messages
43,554
Are the unions getting a little too fat these days? Talk about slow to react. They don't appear to have their ear to the ground. This has been a long time coming.
 

Gaz{M}

Executive Member
Joined
Feb 9, 2005
Messages
6,055
These very unions are the reason their members don't WANT to learn or improve. It's too late now to cry that you want free upskilling and training.

Take responsibility for your own development in life. Use some of YOUR salary to improve yourself. None of these union workers are starving, as they have enjoyed increases and bonuses every year, well over inflation, while "managers" (ie: anyone other than a techie or entry level employee) have endured a decade of below inflation increases and bonuses. There are plenty of articles about this.

Yes, I agree that top management earn way too much for what they produce. But that is what the BOARD have approved. See who sits on the board and then come talk.
 

freematrix

Senior Member
Joined
Mar 7, 2007
Messages
603
Telkom have been shedding jobs for the last 20 years and every time they retrench a few thousand more workers, the unions complain.
This is not overly bad as many more jobs have been created in other companies who compete with Telkom. Its just a dinosaur slowly dying and the unions are losing out on their annual bonuses.
 

zolly

Expert Member
Joined
Sep 1, 2005
Messages
2,991
Telkom CEO should not get R23 million and fire employees - Union

Trade union Solidarity has launched an attack on Telkom for planning to fire 3,000 employees after paying its executive team more than R100 million.

Telkom recently announced that it is planning to cut as many as 3,000 jobs across the company and has served unions with letters regarding the Section 189 process.
Am I the only one who asks how can a company afford to pay the top people R100 million but still be going to ****? Surely if your leadership is failing then you should start with salary cuts there?

Yes, I agree with the general sentiment that this should apply to our politicians as well.
 

ToxicBunny

Honorary Master
Joined
Apr 8, 2006
Messages
87,305
Am I the only one who asks how can a company afford to pay the top people R100 million but still be going to ****? Surely if your leadership is failing then you should start with salary cuts there?

Yes, I agree with the general sentiment that this should apply to our politicians as well.
So you don't think for such a widescale company with multiple divisions and a myriad of technologies at play that the company may be financially quite healthy but still need to initiate S189 process for employees in divisions that manage technology stacks that are legacy and being deprecated?
 

zolly

Expert Member
Joined
Sep 1, 2005
Messages
2,991
So you don't think for such a widescale company with multiple divisions and a myriad of technologies at play that the company may be financially quite healthy but still need to initiate S189 process for employees in divisions that manage technology stacks that are legacy and being deprecated?
If that's the case then it should be made clear. "Sorry guys, you've been replaced by machines. Cheers." However, it's not obvious that's what's going on here. From what I've read, Telkom is struggling. If they're going to fire people it should be made clear why that's the case.

Also, I'm not going to pretend that even if retrenchments do make sense, the gap between the top and bottom employees should be reduced where ever possible. People do not need to be walking away with R20+ million rand a year to live a decent life.
 

Big Sub-Zero

Well-Known Member
Joined
Apr 27, 2011
Messages
251
If that's the case then it should be made clear. "Sorry guys, you've been replaced by machines. Cheers." However, it's not obvious that's what's going on here. From what I've read, Telkom is struggling. If they're going to fire people it should be made clear why that's the case.

Also, I'm not going to pretend that even if retrenchments do make sense, the gap between the top and bottom employees should be reduced where ever possible. People do not need to be walking away with R20+ million rand a year to live a decent life.
What was Telkom’s net profit figures last FY? It was in the region of billions right?
 

zolly

Expert Member
Joined
Sep 1, 2005
Messages
2,991
What was Telkom’s net profit figures last FY? It was in the region of billions right?
No idea, but from what I've read the company is on a downward trend. This is from an older article but I don't think things have changed since it was posted.

"Shares in Telkom slumped in afternoon trade on Tuesday after the group warned that it expects earnings for the six months ended September 2019 to drop by as much as 40%. "

https://businesstech.co.za/news/telecommunications/351395/telkom-shares-slump-on-earnings-warning/
 

ToxicBunny

Honorary Master
Joined
Apr 8, 2006
Messages
87,305
No idea, but from what I've read the company is on a downward trend. This is from an older article but I don't think things have changed since it was posted.

"Shares in Telkom slumped in afternoon trade on Tuesday after the group warned that it expects earnings for the six months ended September 2019 to drop by as much as 40%. "

https://businesstech.co.za/news/telecommunications/351395/telkom-shares-slump-on-earnings-warning/
Yes, and this is normal for a company that is moving from a massive legacy technology into the mobile and fibre spaces...
 

Big Sub-Zero

Well-Known Member
Joined
Apr 27, 2011
Messages
251
South Africa is a very sad and a funny place to be... A company making billions of rands in annual profits is reducing its workforce whereas the other company which is also state owned and running massive loses in the region of R20bn get to keep all the bloated workforce. Welcome to the stories that defines our continent Africa...
 

zolly

Expert Member
Joined
Sep 1, 2005
Messages
2,991
Yes, and this is normal for a company that is moving from a massive legacy technology into the mobile and fibre spaces...
Nothing I have read has said this is the case though. To be clear, I don't disagree with you, but all I've read is that Telkom is looking to get rid of up to 3k jobs.
 
Top