A major electronics manufacturing facility in East London, which until recently made decoders for MultiChoice, faces possible liquidation after it reportedly failed to make repayments on a R200-million loan.
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Both the Wacs and Sat-3/Wasc cables providing international connectivity from South Africa to international markets were knocked out on Thursday, causing slow connections for some consumer and business users.
Communications minister Stella Ndabeni-Abrahams said on Thursday that she will meet urgently with Telkom management to discuss the company’s plan to let go of as many as 3 000 employees.
Trade union Solidarity has slammed Telkom over its plan to cut up to 3 000 jobs, or 20% of its 15 000-strong workforce, describing the move as “reckless” and “merciless”.
JSE-listed telecommunications specialist Huge Group plans to buy back its own shares, it said in a statement to investors on Wednesday.
Telkom shares jumped on Thursday after it emerged on Wednesday evening that the company plans a major retrenchment round that could see up to a fifth of its workforce let go.
The so-called phase-one US-China trade pact has done little to allay fears about Huawei Technologies’ prospects and those of its key suppliers, two analyst research reports suggest.
Toyota is making a $394-million investment in Joby Aviation, one of the handful of companies with the seemingly implausible goal of making electric air taxis that shuttle people over gridlocked highways and city streets.
Glencore is negotiating a long-term contract to ship cobalt to Tesla ’s new electric vehicle factory in Shanghai, according to people familiar with the matter.
It’s turning out to be a bleak start to the new year for employees at the partially state-owned telecommunications operator Telkom, with as many as 3 000 jobs on the line.