Ellies shares slump as it announces job cuts to conserve cash
Retrenchments at electronics group may be part of an attempt to streamline operations, says analyst
26 September 2022 - 12:31
UPDATED 26 September 2022 - 20:01
Ellies lost almost a fifth of its value on Monday as the electronics company announced probable job cuts to save money after reporting a loss in its 2022 financial year.
The electronics group, which imports, makes and sells electronic equipment such as aerials and power trolleys, as well as undertaking solar installations, will start consultations in line with SA’s labour laws, it said in a statement. ..
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