JOHANNESBURG - Employment and Labour Minister Nomakhosazana Meth has stepped in to try to save 22,000 jobs at Pick n Pay.
Meth convened a meeting of the company’s executives and trade unions after both parties requested her intervention.
The retrenchment process that started last month is now on hold.
READ | Pick n Pay warns it could take longer to make profit
Parties have agreed to return to the negotiating table to explore alternative solutions.
The retailer’s shares have lost more than half their value in the past five years.
They closed marginally higher today.