Telkom executives take home millions

"In June, Telkom reported an operating profit of R4.6 million for the year ended March 2014, from a prior loss of R11.15 million in 2013."

Is that meant to be million or billion?
 
Scooby_Doo said:
"In June, Telkom reported an operating profit of R4.6 million for the year ended March 2014, from a prior loss of R11.15 million in 2013."

Is that meant to be million or billion?
Click to expand...

All amounts are "Rm". The author saw R4,602 and only added 3 zeros instead of 6 zeros.
 
The best thing to do after you retrench a bunch of people is give yourself a bonus.
 
But I thought Telkom was making a loss on most products and hence, there was no cash to effectively repair the damage to copper theft or roll out adsl services on a faster time scale?
Who would have thunk?
 
Petec said:
But I thought Telkom was making a loss on most products and hence, there was no cash to effectively repair the damage to copper theft or roll out adsl services on a faster time scale?
Who would have thunk?
Click to expand...

They are making a loss on some things and a healthy margin on others. They are also quite restricted on what they can and can't cross subsidize. To get copper theft and adsl roll out issues better handled we need facilities leasing based LLU - the failure there sadly rests with ICASA, government, Telkom and certain of Telkom's competitors (who like to behave as opportunistically as possible and decided to ask for a market review so that we can emulate New Zealand)
 
follow your leaders.... we see government spending millions on all kinds of greedy indulgences, millions paid on luxury cars, while the people voting for them keep suffering in poverty.
but then, if your voters are stupid, if your board is stupid, and keep choosing the same... go for it!
 
I wonder what the income disparity is for this and a few other companies in SA? Someone should get to it on an article about it.. Very curious.. Ie entry level employed person (for industrial function ie not cleaner) earning level vs board members/exec salaries. Pretty sure most of the monopolies will have levels which would make the US execs envious.

Also a damning report would compare industry & gov owned companies. I reckon a report like that on Telkom, Eskom, SAA, SABC etc would be squashed if proven other companies in the same industry have lesser skewed ratios
 
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krycor said:
I wonder what the income disparity is for this and a few other companies in SA? Someone should get to it on an article about it.. Very curious.. Ie entry level employed person (for industrial function ie not cleaner) earning level vs board members/exec salaries. Pretty sure most of the monopolies will have levels which would make the US execs envious.

Also a damning report would compare industry & gov owned companies. I reckon a report like that on Telkom, Eskom, SAA, SABC etc would be squashed if proven other companies in the same industry have lesser skewed ratios
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MTN and Vodacom execs' pay outstrips Telkom ...
 
If I worked there and they retrenched me I'd sue them for mismanagement.
 
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