Cash-strapped Eskom expects to have 7,000 fewer staff in five years’ time, a senior manager at the utility said on Thursday. Unions representing employees at the utility have said they will resist attempts to cut the workforce and fight moves to privatise the company. “Eskom intends to reduce headcount from 48,678 to 41,613 by 2023 across all levels through normal attrition,” Marion Hughes, a senior manager at the utility said in a strategy presentation. Eskom has R270bn of state-guaranteed debt and is often cited as a threat to SA’s credit ratings. Its total debt is about R390bn. President Cyril Ramaphosa appointed a new board at Eskom early in 2018 in one of his first interventions since becoming leader of the ANC. He later secured the backing of senior ANC figures for a radical overhaul of Eskom. In July, Eskom said it was considering selling noncore assets and job cuts after swinging to a full-year loss. The utility was forced to cave in to union demands for higher pay after pro...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.