Massmart\u00a0is consulting with unions about store closures and job cuts, but Makro will remain unaffected.<\/p>\n
In its announcement<\/a><\/strong>, the company said its plan is to close a total of 34 physical stores and retrench 1,440 employees in an effort to improve its finances.<\/p>\n \u201cThe Massmart Group has recently conducted a store optimisation project that highlighted a number of underperforming stores in its portfolio,\u201d said Massmart.<\/p>\n \u201cConsequent to this project the Massmart Group seeks to advise shareholders that Massmart has commenced a potential store closure consultation process in terms of section 189 and section 189A of the Labour Relations Act.\u201d<\/p>\n MyBroadband asked Makro how these job cuts would impact it, but the retailer said it would remain unaffected.<\/p>\n “Please note that Makro is not affected by the announcement,” Makro said.<\/p>\n Makro may have escaped the cutbacks unscathed, but Masscash is set to lose 11 stores, and Massmart plans to shut down the Dion Wired franchise.<\/p>\n The company plans to shutter all 23 Dion Wired stores in South Africa, removing the hi-tech retailer’s local presence entirely.<\/p>\n According to Massmart\u2019s website, its Masscash division consists of the following stores:<\/p>\n Massmart’s new chief executive, Mitchell Slape, arrived at the company in September last year with a mission to turn around its financial position after it reported a loss in the first half of 2019.<\/p>\n Massmart operates a range of well-known retailers in South Africa in addition to the companies listed above.<\/p>\n These include the \u201cBuilders\u201d stores, consisting of the Warehouse, Express, Trade Depot, and Superstore outlets.<\/p>\n A Game spokesperson has confirmed that other brands in the Massmart group are not affected by the planned store closures.<\/p>\n Massmart\u00a0is consulting with unions about store closures and job cuts, but Makro will remain unaffected.<\/p>\n","protected":false},"author":341028,"featured_media":285948,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[19],"tags":[62598,8965,35,62596],"class_list":["post-335044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-closure","tag-dion-wired","tag-headline","tag-masscash"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/335044"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341028"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=335044"}],"version-history":[{"count":2,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/335044\/revisions"}],"predecessor-version":[{"id":335056,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/335044\/revisions\/335056"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/285948"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=335044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=335044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=335044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}RIP Dion Wired<\/h3>\n
\n
Now read: Green tech pays off for investors<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"