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SAA says job cuts could save firm R700m

Restructuring plan finalisation due by March.

South African Airways’s (SAA’s) restructuring plan will be finalised by March next year and should save the firm R700 million, the executive team at the ailing state airline told a media briefing on Tuesday.

“If you look at the 944 employees (who could lose their jobs), it’s estimated, depending on how the process pans out, it could save the company about R700 million. Our communications to labour and employees is to have this process finalised by the end of March next year,” said South African Airways‘ Martin Kemp.

Earlier on Tuesday the company said it had started consultations with its more than 5 000 staff and labour unions about cutting jobs to bringing down its massive debt, including a R21.7 billion funding gap, that has forced government to repeatedly bail it out. 

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I wonder how many useless “Managers” will be on that list of 900.
900 people saving 700m = 777K each. This means it will be pretty low level employees as the management wont be happy with such measly remunarations.
Just shut the ting down already!!

Maybe if the management displays solidarity with the minions it will be easier to swallow.
How about the rest of the staff – not being retrenched – take a pay cut of 15%. That should save another 700m per year form my crude calculations.
To make it even better the higher management and board can take a 20 % cut – should save another 100m I would guess.

If this is done the union cannot really complain – not so?

End of comments.

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