Workforce Holdings skips dividend amid Covid-19 and recession
Labour-services group reports that minimum wage hike that began in March 2020 has hit some of its clients
Labour-services group Workforce Holdings said on Tuesday that the recent increase in the national minimum wage was affecting some of its clients, and it had opted not to declare a dividend as it battled the Covid-19 outbreak and SA’s recessionary economy.
SA’s minimum wage rise of 3.8% from the beginning of March affected some of its clients, the group said. CEO Ronny Katz said the group welcomed the national minimum-wage legislation, believing it would in the longer term improve the stability of labour in SA and provide fairer and more sustainable pay structures...