Job cuts as Tongaat shuts sugar mill
Agri-processing company in a race against time to reduce debt by R8.1bn by March 2021
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.