Transnet CEO Portia Derby digs in her heels as SA counts cost of strike
Labour costs are unsustainable and we have a turnaround responsibility, says Derby
As SA’s faltering economy counts the cost of the crippling weeklong strike at Transnet, group CEO Portia Derby has dug in her heels, saying the company cannot afford to yield to worker demands, potentially setting the stage for a protracted standoff with labour unions.
“I know some people feel this is a strike that we should pay whatever is required. But the truth is we have a responsibility to turn around Transnet and leave a strong, sustainable company on the other side of the divide,” Derby told delegates attending the Agri SA annual congress in Pretoria on Thursday. “It is not sustainable to have about 66% of your operating cost being labour costs.”..
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