Telkom faces tough market conditions, cuts over 1,200 jobs

Telkom, the South African telecommunications company, has announced job cuts as part of its ongoing restructuring efforts.

1. Telkom has cut close to 1,200 jobs as part of its restructuring efforts, with more job cuts expected to come.
2. The job cuts are part of Telkom’s efforts to reduce costs and streamline its operations in a highly competitive market.
3. Telkom has previously announced job cuts in 2016 and 2018, with the company citing various reasons such as reducing call termination rates and outsourcing jobs.
4. The job cuts are expected to impact up to 15% of Telkom’s total employees across all business units and subsidiaries.
5. Telkom has offered voluntary retirement and severance packages to affected employees.
6. The Communications Workers Union (CWU) has criticized Telkom’s executives for getting rich by sacking workers and has called for a moratorium on job cuts.
7. Telkom’s restructuring efforts come as the company faces increasing competition from other telecommunications providers in South Africa.