Barloworld moves to slash salaries, cut jobs in response to COVID-19 shocks

Logistics and automotive group Barloworld has reported that it will be retrenching staff due to its cost saving and containment initiatives. Staff will be cut by 20 to 25 per cent as well as salary cuts amid a reduction in demand, volatile commodity prices and a disruption in supply chains. The group reported an interim revenue decrease of 12.2 per cent and operating profit decrease of 28 per cent. Barloworld CEO, Dominic Sewela joins CNBC Africa for more.

Tue, 30 Jun 2020 11:04:17 GMT
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