{"id":319394,"date":"2019-05-27T10:47:14","date_gmt":"2019-05-27T08:47:14","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=319394"},"modified":"2019-05-27T10:47:14","modified_gmt":"2019-05-27T08:47:14","slug":"telkom-sheds-more-than-2000-jobs","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/319394\/telkom-sheds-more-than-2000-jobs\/","title":{"rendered":"Telkom sheds more than 2,000 jobs"},"content":{"rendered":"<p>Telkom shed more than 2,000 permanent jobs over the past year, or 12.5% of its workforce, the group said in a financial statement for the year ended March 2019.<\/p>\n<p>The operator noted that permanent jobs declined to 15,296 from 17,472 in the prior year &#8211; a loss of 2,176 people.<\/p>\n<p>&#8220;The decrease in permanent workforce was primarily due to VSP\u2019s (voluntary severance package) and VERP\u2019s (voluntary early retirement packages) offered and the section 189 process,&#8221; it said.<\/p>\n<p>Telkom has reduced its headcount in its main consumer business (Telkom Company) from over 21,200 people in <strong><a href=\"http:\/\/www.telkom.co.za\/ir\/apps_static\/ir\/pdf\/financial\/pdf\/Annual_telkom_2014.pdf\">FY 2013.<\/a><\/strong> At a group level, Telkom merged with BCX in 2016, which added almost 8,000 employees to the group.<\/p>\n<p>On Monday, the group reported a 5.3% jump in operating revenue to R41.8 billion, spurred by strong growth in its mobile division. However, its fixed-broadband subscribers recorded the biggest decline ever.<\/p>\n<p>The results showed that Telkom\u2019s ADSL, VDSL, and fibre subscribers declined from 981,176 in March 2018 to 847,650 in March 2019.<\/p>\n<p>Mobile service revenue increase by 58.3%. \u201cThe significant growth in mobile service revenue was supported by an 85.9% growth in active subscribers to 9.7 million, as our affordable broadband-led proposition continues to resonate with customers,\u201d said group CEO, Sipho Maseko.<\/p>\n<p>\u201cDespite adding 4.5 million subscribers in the year, our blended average revenue per user (ARPU) was stable at R100.\u201d<\/p>\n<p>Maseko said that pre-paid subscribers more than doubled compared to the prior year, increasing by 109.3% to 7.8 million.<\/p>\n<p><strong>Key salient features:<\/strong><\/p>\n<ul>\n<li>Group operating revenue up 5.3% to R41.8 billion<\/li>\n<li>EBITDA up 8.5% to R11.3 billion<\/li>\n<li>Headline earnings per share was up 22.6% to 722.4 cents per share.<\/li>\n<li>Capex of R7.7 billion with capex to revenue ratio of 18.4%<\/li>\n<li>Final ordinary dividend of 249 cents taking the annual dividend to 362 cents, an increase of\u00a0 2.0% year on year<\/li>\n<\/ul>\n<p>The racial breakdown of permanent employees within the reporting year comprised of 64% black South Africans, 33%white South Africans and 3%non-South Africans, the group said.<\/p>\n<p>&#8220;In total, 35% of our external recruitment was made up of women. It remains a challenge to realise gender equality and female representation which aligns to the challenges of the broader ICT sector. Within the group, women represent 31% of our employee base,&#8221; Maseko said.<\/p>\n<p>&#8220;Our top management black representation increased from 62% to 100%.&#8221;<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/05\/Telkom-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-319412\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/05\/Telkom-1.png\" alt=\"\" width=\"825\" height=\"232\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/05\/Telkom-1.png 825w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/05\/Telkom-1-300x84.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/05\/Telkom-1-768x216.png 768w\" sizes=\"auto, (max-width: 825px) 100vw, 825px\" \/><\/a><\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/mobile\/319296\/telkom-delivers-strong-growth-on-mobile-customer-surge\/\" target=\"_blank\" rel=\"noopener noreferrer\">Telkom delivers strong growth on mobile customer surge<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Telkom shed more than 2,000 permanent\u00a0 jobs over the past year, or 13.4%, the group said in a financial statement for the year ended March 2019.<\/p>\n","protected":false},"author":10,"featured_media":90052,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[26,65],"class_list":["post-319394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-headline","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/319394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=319394"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/319394\/revisions"}],"predecessor-version":[{"id":319424,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/319394\/revisions\/319424"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/90052"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=319394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=319394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=319394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}