Skint Denel not able to pay full salaries for June
Staff to receive 85% of their pay while loss-making arms manufacturer struggles to scrape together the rest
25 June 2019 - 08:59
State-owned arms manufacturer Denel is unable to pay its employees their full salaries this month.
“Due to the ongoing liquidity challenges, we are now faced with the unfortunate reality that the company is not in a position to fulfil the 100% salary obligation for June 2019,” Denel group CEO Daniel du Toit in a statement...
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.