South Africa\u2019s largest clothing retailer, Edcon, is set to undergo massive job cuts at its head office in Johannesburg, according to reports.<\/p>\n
Business Report<\/a> said that Edcon, which operates more than 200 Edgars stores, would shed as many as two-thirds of its 3,000-strong head office staff as part of a cost cutting exercise.<\/p>\n However, Bloomberg<\/a> reported that the number would be fewer than 2,000, citing Edcon spokeswoman Vuyo Mtawa.<\/p>\n The move is designed to \u201creflect a simpler, more agile structure that positions us for growth,\u201d the company said. The process will be completed \u201caround March\u201d and employees of the company owned by US private-equity firm Bain Capital Partners LLC will have the opportunity to apply for other positions, Mtawa said.<\/p>\n Edcon retrenched 3,000 workers between 2013 and 2014, Business Report noted, while Bloomberg said that retrenchments are expected to be completed over the next month.<\/p>\n South African consumers face a difficult year in 2016, amid rising interest rates, an expected tax hike, increased fuel prices and electricity tariffs.<\/p>\n This graphic shows the shocking state of employment in South Africa<\/a><\/strong><\/p>\n Unemployment a bigger scar than apartheid: \u2018racist\u2019 economist<\/a><\/strong><\/p>\nMore on jobs in SA<\/h3>\n