The Post Office cannot be saved without R3.8-billion in funding that government has confirmed is not coming.
Browsing: Juanito Damons
The Post Office’s rescue practitioners have moved to clarify that no application has yet been filed for its liquidation.
Government has scrapped the Post Office’s sub-1kg parcel monopoly, finally aligning the law with market reality.
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.
The Communication Workers Union says the Post Office is supposed to play a developmental role in South Africa.
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.