Share

Sun International may cut jobs

Johannesburg - Retrenchments could be on the cards at hotel chain Sun International as part of a proposed restructuring process.

"Based on the company's initial assessment of restructuring possibilities, approximately 1 700 positions throughout the South African operations of the company may potentially be affected," the company said in a statement on Wednesday.

Spokesperson Michael Farr said this meant the company had identified these positions and they would be discussed during a consultation process, which had already begun.

"Yes, 1 700 positions could be affected. They could be affected in a change of agreement or in any other way. It doesn't mean that it is a retrenchment figure," said Farr.

Sun International CEO Graeme Stephens said all options would be discussed.

"In the current environment, we have no choice but to propose the restructuring of the business," he said.

"Retrenchments, if applicable, would be a last resort for us and certainly not a decision that would be taken lightly."

Stephens said Sun International was putting every effort into both cost-saving and revenue-generating initiatives.

"Sun International is experiencing increasing pressure on revenues along with growing operating costs," it said.

"Over the past six years, revenue from the group's South African operations has increased by only 17%... Over the same six-year period, employee costs have risen by approximately 39 percent, with the minimum wage increasing by 47%."


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.0%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.41
+0.1%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.13
-0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent-ruolie
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders