M&F 'TO AXE 38% OF ITS STAFF' - SAPA

Tue, 08 Jul 2008

MUTUAL AND FEDERAL should come clean on the proposed retrenchment of 623 of its employees, trade union Solidarity said on Monday. According to MUTUAL and FEDERAL'S annual report, the company had 3 311 employees at the end of December 2007 and, as suggested by the Article 189 notice, 2 678 employees at the end of May 2008.Kleynhans said the group planned to retrench 623 employees within eight months. Kleynhans said that according to the Article 189 notice, Mutual and Federal also clearly stated that there had been no retrenchments during the previous 12 months. Comment could not be immediately obtained from MUTUAL AND FEDERAL.