Kaya 959 Kaya Biz

Sibanye-Stillwater to retrench up to 1,959 employees

Loading player...
SIBANYE-Stillwater may retrench up to 1,959 employees from its South African gold operations following an announcement today it had started restructuring talks with unions at its Beatrix 4 shaft and Kloof 1 plant. This is in terms of Section 189 of the Labour Relations Act which seeks to find ways of minimising job losses through voluntary separate, redeployment of employees and retrenchment avoidance methods. Richard Stewart, chief officer for Sibanye-Stillwater’s southern Africa region said the restructuring was necessary as the operations were making losses that would “threaten the remaining life of mine of the other South African gold operations, and ultimately also the employees of the broader group”.
1 Nov 2022 2PM English South Africa Business News · Investing

Other recent episodes

The Mental Health Cost of Financial Stress

Financial stress has emerged as one of the biggest threats to South Africans' mental wellbeing. Dr Rachel Moore, Chief Medical Officer at Mediclinic Southern Africa, discusses the psychological impact of economic pressure, barriers to accessing mental healthcare and what can be done to reduce stigma and improve support.
22 Oct 2PM 12 min

KPMG Africa CEO Outlook: Confidence vs Execution

African CEOs remain confident about growth despite geopolitical tensions, economic uncertainty and disruptive technological change. Tola Adeyemi, CEO of KPMG One Africa, unpacks why execution has become the defining leadership challenge, and why many organisations are still struggling to keep pace with artificial intelligence
22 Oct 1PM 20 min

South Africa’s Economic Report Card After the MTBPS

Finance Minister Enoch Godongwana's Medium-Term Budget Policy Statement paints a mixed picture of South Africa's economy. Revenue collection is outperforming expectations, and fiscal stability appears to be improving, yet growth forecasts have been downgraded amid infrastructure constraints and global risks. Dr Nwabisa Kolisi of the HSRC unpacks what the MTBPS…
22 Oct 12PM 9 min

Clicks Crosses R50bn: Growth Through Scale

Clicks Group has become a R50 billion turnover business, cementing its position as one of South Africa's retail success stories. CEO Bertina Engelbrecht discusses the drivers behind the milestone, changing consumer behaviour, pharmacy-led growth and how the retailer plans to expand while navigating a tough consumer environment.
22 Oct 12PM 15 min

Strong Cash Flow, Softer Profits: Inside Famous Brands' Interim Results

Famous Brands delivered a resilient performance in difficult trading conditions, growing revenue and more than doubling free cash flow while navigating consumer pressure and global uncertainty. CEO Darren Hele discusses cash generation, expansion plans, shareholder returns, challenges in key regional markets and what current trading conditions reveal about South African…
21 Oct 1PM 14 min
All episodes