Restructuring South African Airways looks to slash workforce
South African Airways is poised to cut close to 20% of its workforce as part of an effort to restructure the carrier. The airline employs nearly 5,150 personnel but says it has started a consultation process after embarking on an overhaul which "may lead to job losses". SAA puts the number of positions potentially affected at 944. "We urgently need to address the ongoing loss-making position that has subsisted over the past years," says acting CE Zuks Ramasia. She says the restructuring is intended to smooth the implementation of an accelerated turnaround strategy. SAA has been long mired in financial difficulties, with debt and liquidity problems, and insufficient revenue. "[Our] balance sheet has historically been weak and remains so despite recent substantial capital injections from the govt," says Ramasia. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-11-12/star/restructuring-south-african-airways-looks-to-slash-workforce
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Restructuring South African Airways looks to slash workforce
South African Airways is poised to cut close to 20% of its workforce as part of an effort to restructure the carrier. The airline employs nearly 5,150 personnel but says it has started a consultation process after embarking on an overhaul which "may lead to job losses". SAA puts the number of positions potentially affected at 944. "We urgently need to address the ongoing loss-making position that has subsisted over the past years," says acting CE Zuks Ramasia. She says the restructuring is intended to smooth the implementation of an accelerated turnaround strategy. SAA has been long mired in financial difficulties, with debt and liquidity problems, and insufficient revenue. "[Our] balance sheet has historically been weak and remains so despite recent substantial capital injections from the govt," says Ramasia. <br/>
