Eskom will extend its strategy of trimming top executive positions to include lower-ranking managers and finally the general workforce as the cash-strapped power utility looks to cut costs, according to a person familiar with the plans. In December the state-owned company reduced its highest executive structure to nine positions from 21 by regrading and combining roles. The next phase is to cut a 600-strong layer of managers — known as E-band employees — by at least 70%, according to the person who requested anonymity because the information is not public. The latest notice on job cuts “is only limited to executive level”, Eskom spokesperson Khulu Phasiwe said in a text message. He did not comment on cuts for other managers or staff. President Cyril Ramaphosa replaced Eskom’s leadership in 2018 to help root out the graft that contributed to the unsustainable financial state at the utility. While the new management has taken measures to increase transparency, a turnaround plan for th...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now