Over 1,400 Pick n Pay workers take severance packages

File: Pick n Pay says government’s decision to ban the sale of alcohol and tobacco has also been detrimental to the business.

File: Pick n Pay says government’s decision to ban the sale of alcohol and tobacco has also been detrimental to the business.

Reuters/Siphiwe Sibeko

JOHANNESBURG - Over 1,400 Pick n Pay workers have taken voluntary severance packages since March.

The figure was contained in the retailer's latest trading statement.

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Pick n Pay says government’s decision to ban the sale of alcohol and tobacco has also been detrimental to the business.

It projects headline earnings per share, for the 26 weeks to end August, will drop by more than 50 percent.

The share price was down over three percent on Tuesday morning.

Source
eNCA