The technology sector has been making headlines for its job cuts, the frequency of which has become a concern, and the worst is, unfortunately, not over.
Analysts have attributed the lay-offs to the market normalising after the Covid-19 pandemic, company-specific structural challenges and a potential upcoming recession. They say the industry will probably shed more jobs in the face of rising interest rates, which have increased the cost of doing business.
Mobile operator Telkom has become the latest company to announce retrenchments. South Africa’s third-largest mobile operator by market share announced recently it would lay off as much as 15% of its workforce as it focuses on cost-saving initiatives.
Telkom said in a statement it would enter a formal section 189 consultation process, as it looked to restructure some of its operations, and that all its business units and subsidiaries would be affected.
Anathi Madubela is a business journalist with a keen interest in the retail sector.
press releases
Loading latest Press Releases…
