Telkom is offering workers a sweet deal to leave the company voluntarily \u2013 but it\u2019s taking a massive chunk of cash to do so.<\/p>\n
According to a report in the Sunday Times, the process will cost the company R1.1 billion.<\/p>\n
Telkom is currently in the process of letting go around 4,400 workers. A further 3,400 workers are expected to be moved to outsourced companies.<\/p>\n
Unions at the company have\u00a0rejected the packages, but Telkom bypassed\u00a0them and approached its workers directly with the\u00a0offers.<\/p>\n
As of the end of July, 2,400 workers had accepted the voluntary packages, which offered pro-rata share payouts, as well as five months\u2019 notice pay.<\/p>\n
The group is also offering two weeks\u2019 pay for each of the first 10 years of service, and student loans and phone debts will be paid off.<\/p>\n
According to the report, staff who accept the deal will also get R60,000 for further training or a taxable R40,000 lump sum.<\/p>\n
In a previous statement in April, Telkom noted that its retrenchments would cost the company over\u00a0R591 million, showing how much the group has since added to sweeten the deal.<\/p>\n
You can read the full report in the Sunday Times of 2 August 2015.<\/em><\/p>\n Telkom re-opens retrenchment packages to all workers<\/a><\/strong><\/p>\nMore on Telkom<\/h3>\n