Job cuts as Tongaat shuts sugar mill
Agri-processing company in a race against time to reduce debt by R8.1bn by March 2021
14 February 2020 - 05:09
Agri-processing company Tongaat Hulett, which is in talks to sell its starch business to reduce its multibillion-rand debt, could retrench about 390 employees at its SA sugar milling and refining operations, it said.
Tongaat has become the latest big group to consider job cuts as SA battles a high unemployment rate of more than 29%. About 9,000 employees already stand to lose their jobs in 2020 as a number of firms including SAB, Sibanye-Stillwater, Telkom, Aspen, Massmart and Glencore intend to lay off staff...
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.