Sasol plans to cut jobs and restructure

SASOLBURG - Chemicals group Sasol - which has seen its share price more than halved so far in 2020 - today said it would begin consulting its workforce on possible retrenchments. This comes after it resolved on an organisational shake-up that will result in two core businesses. Business Insider reports Sasol “2.0” will be focused on chemicals and energy, with each responsible for their own profit and loss. The group said the redesign of the organisation to enable their sustainability at lower oil prices will have an impact on our workforce structure. The chemicals business will focus on its activities in speciality chemicals, while the energy business will comprise the Southern African value chain and associated assets and will pursue greenhouse gas emission reduction through a focus on gas as a key feedstock and renewables as a secondary energy source. The South African petrochemicals producer has also agreed a deal with lenders to relax borrowing rules.

PHOTO: (Supplied)

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