The Post Office has reapplied for Ters scheme money following national treasury’s refusal to bail it out.
Browsing: Anoosh Rooplal
Finance minister Enoch Godongwana has refused to bail out the Post Office. Now 6 000 jobs are on the line.
The first tranche of severance packages for retrenched employees of the state-owned entity is being paid on Friday.
The embattled Post Office has been granted an extension to a monopoly that it appears powerless to enforce.
The failure of an effort to save thousands of jobs at the embattled Post Office has been described as disappointing.
The pact between business rescue practitioners and unions relies on funding from the Unemployment Insurance Fund.
Business rescue practitioners Anoosh Rooplal and Juanito Damons have told MPs about their plans to rescue the Post Office.
The Post Office will not be liquidated but thousands of jobs are now set to go after creditors agreed to a rescue plan.
The Post Office is seeking another R3.8-billion bailout – but under a rescue plan, a jobs bloodbath seems inevitable.