CONTEMPLATING SHORT-TIME, LAY-OFFS OR RETRENCHMENTS?

Given the current state of the South African economy, political and policy uncertainty, and the pending closure of two of Arcelor Mittal’s plants, businesses may have to consider the possibility of implementing retrenchments. According to recent reports, ArcelorMittal’s announcement to shut down its long steel products business and cut as many as 3,500 jobs is a stark reminder of the severity of the crisis South Africa is facing. Reports also highlight that the country’s sour economy combined with the fiascos that are Eskom and Transnet have undermined steel demand, accelerating the process of deindustrialization. It is important for businesses to keep a close eye on the economic situation and take necessary steps to ensure their sustainability.

If you are contemplating the implementing of short-time, lay-offs or retrenchments, please book your seat for our session on Thursday, 1 February 2024, where we will guide members through the relevant processes.

For more information or to book please contact gordon@saefa.co.za or charlene@saefa.co.za. Please note that all of our training courses are available in-house.