Company Data
| Last traded |
R45.25 |
| Change |
R0.13 |
| % Change |
0.29% |
| Cumulative volume |
776,363 |
| Market cap |
R21.74bn |
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The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - Members of the SA Commercial, Catering and Allied Workers Union (Saccawu) employed at retailer Pick n Pay Stores [JSE:PIK] plan to strike over wages, the union said on Monday.
"Whilst we cannot disclose dates at this stage, we can confirm that more than 25 000 union members will soon be embarking upon a protected strike," Saccawu said in a statement.
Pick n Pay, however, told Sapa it had to date received no notification from Saccawu regarding strike action.
"We look forward to their communication in this regard," CEO Nick Badminton said.
Describing the wage dispute as "deliberately protracted", Saccawu said preparations for the strike were underway.
Saccawu claimed the company was trying to "frog-march" it into a multi-year agreement and had made an offer which amounted to an
"insult".
Saccawu members had mandated union leaders to co-ordinate a
nationwide strike.
"Members have also mandated the union leadership to mobilise other civil society formations for an aggressive consumer boycott once members embark upon a protected strike," it said.
The union alleged that Pick n Pay management had "unilaterally and unjustifiably" terminated a job security and job flexibility agreement, causing serious tensions on the shop floor.
Management had also allegedly withdrawn the company's sponsorship of an annual shopstewards' council.
This usually provided management with a platform to share its strategic vision and future plans with shop floor leadership.
Saccawu accused the retailer's senior management of being "hell-bent" on petty issues instead of focusing on the strategic challenges facing the company.
"Members are now fed-up as they have to endure hardships on the shop floor and an uncertain future due to lack of strategic leadership from senior management," Saccawu said.
It said workers had been due increases in March. Those who fell outside the bargaining unit received their increases in July.
Saccawu alleged that Pick n Pay had been training "scabs" since mid-August.