Damelin owner Educor to halve workforce
With SA’s economy in such a dire state, people are even pulling back on education costs, with new enrolments down 20% this year
Educor, the owner of Damelin, CityVarsity and Intec College, is planning to cut 752 people from its workforce, almost half its permanent staff.
This will swell the ranks of SA’s unemployed, with about 9,000 retrenchments already proposed this year from a range of large companies including Sibanye-Stillwater, Telkom, Massmart, Aspen and Glencore. On Wednesday AB InBev’s SAB confirmed reports that it will also reduce up to 500 workers.