COMPANY COMMENT
Who will win wage tussle at Eskom?
It’s hard to guess what the outcome will be, but history tells us the wage settlement cannot be 0%
As wage negotiations at Eskom approach, there can only be one real winner. On one hand there is a bankrupt power utility that is struggling under the weight of a R480bn debt pile and depends on cash injections from the fiscus for its survival. On the other hand, there are Eskom’s employees, with the majority union being the National Union of Mineworkers (NUM), who will argue that workers should not bear the brunt of Eskom’s maladministration.
And it would seem they haven’t. According to MyBroadband, Eskom pays the third-highest average salary in SA — R785,557 per year. The NUM says it will be negotiating for a 15% salary increase at Eskom to sign a three-year deal until 2024. Inflation, meanwhile, increased to 3.2% in March. ..
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