Union pledges to resist the mass job cuts in the post office
The business rescue plan for the SA Post Office estimates 6,000 workers – more than half the current workforce of 11,038 – will have to be retrenched in the Q1:2024 (plus branches cut from 1,203 to 600). The Post Office has debts of R4.5-billion. Of this, R3.9-billion is owed to Postbank, with about R400-million owed in rental arrears. The operating losses are due to declines in revenue and an unsustainable cost base.