Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Eskom vows to soften strike blow

Jun 22 2010 16:40

Related Articles

Eskom talks fail, strike likely

Eskom offers 8%, R12 000

CCMA steps in to stop Eskom strike

Eskom transmission may be spun off

Eskom strike averted - for now

Eskom gets new leadership

 

Top Stories

Mantashe: We don't need the West

May 23 2012 09:47

Western investors must realise SA does not need their money as it can now turn to fellow Brics members for funding, says ANC secretary general Gwede Mantashe.

Facebook, banks sued over pre-IPO calls

May 23 2012 18:03

Facebook and banks are being sued by Facebook's shareholders, who claimed the defendants hid Facebook's weakened growth forecasts ahead of its initial public offering.

E-toll case goes to ConCourt

May 23 2012 08:10

Several parties, including government, have launched a Constitutional Court appeal against an interdict temporarily halting the e-toll project, Outa says.

 
Share Share line Print

Johannesburg - Power utility Eskom on Tuesday promised to reduce the impact of strike action on the security of supply should trade unions push ahead with their plans.

"Should the strike go ahead, Eskom will implement contingency measures to reduce the impact of the strike action on the security of supply," Eskom said in a weekly power supply status report.

The utility's reassurances come as a possible strike looms following a deadlock in negotiations between Eskom and three trade unions on Monday evening.

Negotiations with labour unions over wage increases were set to resume on Tuesday under the auspices of the Commission of Conciliation, Mediation and Arbitration (CCMA).

Trade unions rejected Eskom's latest wage offer of an eight percent across-the-board increase on basic salary, a 5.6% increase to key allowances, and a R12 000 per employee once-off ex-gratia payment, paid in two equal instalments in July 2010 and July 2011.

Eskom said the ex-gratia payment was designed to facilitate the transition to a total cost-to-company pay structure, which will include a housing benefit and the
introduction of a defined contribution pension scheme as an option for existing employees.

But trade unions, representing more than 30 000 Eskom employees, were not willing to settle.

Initially reducing their demand from 18% to 15%, the trade unions latest offer is for a nine percent increase and a housing allowance of R5 000 per employee.

Now the CCMA has given Eskom until 10:00 on Wednesday to consult its executive committee on the unions' revised demand.

Solidarity's chief negotiator Bennie Blignaut told Sapa that if Eskom failed to return with a new offer on Wednesday, the unions - who were still in agreement on
the issue - would go on strike.

"It would be an unprotected strike, because they are essential services, but that is a chance we will have to take," Blignaut said.

But Eskom said it was confident that the parties would find a common ground on the matter soon.

"Negotiations are currently at mediation stage, and could go to arbitration should the affected parties not reach an agreement," said Eskom.

- I-Net Bridge

 
 
Comment on this story
5 comments
Add your comment
Comment 0 characters remaining
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

Sasha

"The way that I read it is simple, more regulation often leads to higher costs, and whilst law makers think that their intentions are well founded, it is generally the customer, in this case the patient that suffers."       Jozi, Jozi. 26 o 12' 16" S, 28 o 2' 44" E . Call it a relief... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...