The Bidvest Group is cutting jobs across all its operations. The company delivered a solid financial performance for its full-year ending in June, but the impact of COVID-19 has had a severe impact on the final quarter.
The company will retrench up to 400 workers in its banking and support divisions. The number of job cuts in other divisions is yet to be confirmed.
There was little movement in revenue from the same period last year, coming in at R76.5-billion. Headline earnings, however, decreased by almost 60 percent.
The group is also in the process of exiting its Bidvest Car Rental and BidAir Services businesses.
In other news – Lerato Sengadi pays moving tribute to HHP on his 40th birthday
HHP’s widow Lerato Sengadi and his unofficial mentee Cassper Nyovest led the masses with emotional tributes for the late rapper on what would have been his 40th birthday. HHP, otherwise known as Jabba (real name Jabulani Tsambo, committed suicide at his home in 2018. Learn more