EOH Holdings is poised to slash employee salaries by as much as 20% in an effort to stave off a potential Covid-19 lockdown-induced crisis at the JSE-listed IT services group.
Browsing: Stephen van Coller
While big technology shares in the US have continued to hit new highs in 2020 – among them, Microsoft, Apple, Amazon, Google and Nvidia – JSE-listed IT companies have had a torrid start to the new decade.
In a pre-closing update ahead of the publication of the group’s interim financial results for six months to end-January 2020, EOH signalled that it’s slowly turning the corner, operationally at least.
EOH has blacklisted 50 “enterprise development” partners and intermediaries and reported suspected criminal behaviour to authorities for investigation and possible prosecution as it continues a clean-up of its operations.
EOH Holdings’ new black empowerment partner, Lebashe Investment Group, has said it won’t subscribe for a R250-million third and final tranche of a planned R1-billion investment in the JSE-listed technology group.