The South Africa Post Office is going to retrench 6,000 workers

VAAL TRIANGLE - The South African Post Office (SAPO) will retrench 6,000 workers and close around 420 loss-making branches. This is part of a business rescue plan for a restructured SAPO that has been approved by the state-owned entity’s creditors. The plan will be adopted in two phases over a two- to five-year period. The rescue plan, first published by joint business rescue practitioners Anoosh Rooplal and Juanito Damons last month, is contingent upon a new R3.8-billion state-funded bailout. The practitioners hope to save around R1.2-billion in annual costs by retrenching workers.

PHOTO: (Supplied)