Telkom CEO Serame Taukobong has announced that Telkom staff will not be receiving any salary increases and no bonuses this year. He made the announcement during the Telkom annual results briefing on Tuesday morning at the JSE offices in Johannesburg.
Taukobong says this is due to the company’s loss in free cash flow of over R2 Billion.
He says, “Had the unpleasant opportunity this morning to announce to our staff that there will be no salary increase and there will be no bonuses. We need to earn and we need to make sure that delivery and focus on delivery are what we paid for. It’s a tough decision that we have to make, but it highlights that, in the new telecom, execution is first above everything.”
Taukobong says Telkom does not need any assistance especially not from his predecessor, Sipho Maseko. Recently, Maseko showed interest in buying Telkom shares through his fund, Afrifund.
Taukobong says the company has in place programmes to recover losses, due to multiple factors.
He says, “The board has equally supported us, we do not need a knight in shining armour, be it my former employee or my former employer, the board remains firm. The journey that we taking for the business, the true results for Telkom.”
