In a bid to cut costs, South Africa’s power utility, Eskom, could extend its strategy of trimming top executive positions to include lower ranking managers and general workers.
A source revealed to Bloomberg that at least 10,000 people on Eskom’s payroll of 48,600 could lose their jobs.
According to a 2016 World Bank study, South African utilities pay workers more than double the norm in 35 other countries on the continent. Additionally, the study indicated that Eskom was potentially 66% overstaffed.
The recent development of trimming top executive positions at Eskom follows an announcement made last month by the Group Chief Executive, Phakamani Hadebe, regarding combining roles at top management.
Source: ESI Africa