Telkom may cut 10 000 more jobs
2 July 1999
cut jobs drastically in a bid to stem the rise in net operating costs which
surged R3,5 billion to R18,46 billion in the year to March 31.
This move was revealed yesterday by Sizwe Nxasana, the chief executive
officer, when he presented the group`s financial results.
Nxasana said the rise in Telkom`s operating costs had been greater than the
comparable increase in revenue received and that, with planned
restructuring, costs would be even higher for this financial year.
Telkom has embarked on a wide-ranging efficiency and cost-containment drive
to "trim wastage and duplication on an unprecedented scale", clamping down
on unnecessary expenses, including travel and subsistence allowances, and
tightening controls on the use of vehicles and other equipment.
Nxasana said that since April Telkom had shed about 2 000 of its 61 000
jobs through early retirement.
It was also looking to exi ...