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.

Most Transnet workers back

May 26 2010 07:05

Related Articles

Acsa downplays airport fuel fears

Transnet 'can do what it wants'

Transnet stalls as more strikes loom

Sympathy strike may hit SAA, others

Transnet implements wage deal

Transnet union threatens more turmoil

 

Top Stories

Sizeable drop in petrol price expected

May 24 2012 17:31

The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.

Income inequality divides SA - survey

May 23 2012 22:00

Economic liberation or the lack thereof is the most divisive issue in the country, according to a survey.

Interest rates unchanged

May 24 2012 15:29

The Reserve Bank will maintain current interest rates, says governor Gill Marcus.

 
Share Share line Print

Johannesburg -    Transnet said on Tuesday that about 65 percent of its employees have returned to work.

"We are pleased at the turnout and we would like to thank our colleagues for placing the interests of the country ahead of short-term gains," acting Transnet CEO Chris Wells said in a statement.

A strike by members of the United Transport and Allied Trade Union (Utatu) ended last week with the union accepting an 11 percent wage increase.  The SA Transport and Allied Workers' Union (Satawu) has vowed to continue striking until Transnet raised its offer to 15 percent.

Wells said in addition to Utatu workers, some Satawu members had also returned to work. In some areas he claimed nearly all workers had returned to their posts.

"For those who have returned to work, I wish to assure them that the company will do all it can to ensure their safety and security.

The company has also taken all steps to ensure the safety of assets during the continued strike by Satawu members," Wells said.

Transnet has unilaterally implemented the 11 percent increase despite Satawu's refusal to accept it.

Transnet spokesperson Mboniso Sigonyela told Sapa the 11 percent would be implemented for all workers, excluding management.

"It will be implemented with effect from April 1. No talks have been scheduled with Satawu. Our offer is 11 percent and it's still on the table... Satawu can come in and accept."

Sigonyela said Transnet management's wage increases would be determined later in the year.

One of the unions' gripes with Transnet was that its management last year got 14 percent increases while workers got seven percent, but Sigonyela denied this, saying management got five percent last
year.

Satawu policy research officer Jane Barrett said a settlement offer was tabled to Transnet on Sunday.

"The ball is in Transnet's court. Our view is that they are holding the country to ransom; they haven't shifted in two-and-a-half weeks.

"Transnet has got to balance up the impact on the economy and their refusal to shift off their 11 percent."

But asked what the impact was on workers' pockets, who were not receiving any pay while on strike, Barrett replied: "We don't instruct our members... they elected to go on strike. They have made the choice."

Economists warned last week that any strike going on for longer than a week negatively affected workers.

The "no work, no pay" rule applied, which meant strikers would receive less than half their normal pay at the end of May.

Cost of the strike

The Transnet strike had already cost the agricultural sector more than R1bn, Agriculture Minister Tina Joemat-Pettersson said on Monday.

Business Unity SA (Busa) has warned the strike may have cost the  economy about R7bn and will cause retrenchments throughout the economy.

"In consultation with its members and some experts, Busa estimates that the cost to the economy of every fortnight of the current Transnet strike could, on certain assumptions, be about R7bn," the organisation said in a statement.

Wells said operations were returning to normality and that a plan to deal with a backlog was being implemented.

"Whilst it will not be possible to return to normality immediately, we are striving to do so as swiftly as possible and I appeal to our customers for patience and their continuing co-operation as we do so," Wells said.

Supplies of jet fuel and petrol would not be interrupted.

Transnet said striking workers had caused R30m in damages to its equipment.  Wells said 32 locomotives had been damaged during the strike.

Transnet was offering a R100 000 reward for information leading to the prosecution of people responsible for the damage.

Satawu issued secondary strike notices to several port-related companies on Monday. Should the Transnet strike not be resolved by June 1, sympathy strikes would be legal in these companies, Satawu general secretary Zenzo Mahlangu said.

- Sapa 

 
 
Comment on this story
9 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)

NicolaaSmith

Items with an underlying monetary nature Utility, scarcity and exchangeability are the three basic attributes of an economic item which, in combination, give it economic value. All economic items are exchangeable and money is generally the generally accepted medium of exchange. All economic items t... 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...