Bidvest Group to cut jobs

File: The Bidvest Group will retrench up to 400 workers in its banking and support divisions.

eNCA

JOHANNESBURG- The Bidvest Group is cutting jobs across all its operations.

The company delivered a solid financial performance for its full-year ending in June, but the impact of COVID-19 has had a severe impact on the final quarter.

The company will retrench up to 400 workers in its banking and support divisions.

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The number of job cuts in other divisions is yet to be confirmed.

There was little movement in revenue from the same period last year, coming in at R76.5-billion.

Headline earnings, however, decreased by almost 60 percent.

The group is also in the process of exiting its Bidvest Car Rental and BidAir Services businesses.

Source
eNCA