Home South Africa News Eskom sets deadline for applications of cash separation packages

Eskom sets deadline for applications of cash separation packages

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Eskom

The cash-strapped power utility is offering its managers exit packages as it tries to claw back on a bloated wage bill. Eskom employees will be allowed to apply for cash separation packages until the end of this month.

The cash-strapped power utility is offering its managers exit packages as it tries to claw back on a bloated wage bill.

The power utility has racked up about R450 billion in debt and is planning to implement the retrenchment plan as part of its turnaround strategy.

The Eskom board has set aside approximately R400 million to implement the limited separations.

Eskom offers voluntary exit packages to managers

The utility said the voluntary packages would be open to qualifying workers who occupy non-core managerial positions.

But employees aged between 60-62 will be allowed to take up the offer irrespective of the role they play in the company.

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While experts have been warning of inevitable mass lay-offs at Eskom for some time now, the utility said “no employee would be coerced to apply or register” for the retrenchments.

Labour has long warned of a revolt if job cuts are introduced at the state-owned entity.

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Source: EWN

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