Transnet to shed up to 10% of it’s labour force

Transnet plans to shed up to 10% of its current labour force through voluntary severance packages.

The state-owned rail and port operator is expected to make the announcement on Friday.

Last week, the company announced plans to partner with private investors for the expansion of the Durban port to the tune of R100-billion.

The United National Transport Union’s general-secretary Steve Harris says they have urged their members not to accept the offer.

SA’s unemployment at its highest

South Africa’s unemployment is at its highest since Statistics South Africa (Stats SA) started surveying the figure in 2008.

Stats SA’s quarterly labour force survey shows that unemployment increased to 34,4% in the second quarter of this year, from 32.6% in the first quarter.

Stats SA indicates that the increase in the unemployment figure was mainly due to an increased number of people who were previously not economically active, now actively looking for employment.

The Quarterly Labour Force Survey shows that unemployment increased to 44,4% according to the expanded definition. The numbers show that unemployed persons increased by 584 000 in the second quarter of 2021.

Video | Jobs Data: South Africa’s unemployment rate rises to 34.4% in the second quarter: Risenga Maluleke

Statistician-General Risenga Maluleke says job losses were seen in various industries including finance, real estate and manufacturing.