SAB set to slash jobs

SAB

The company says the retrenchments are necessary in light of current economic conditions.

Kevin Sutherland/Bloomberg via Getty Images

JOHANNESBURG - South African Breweries -- currently under the AB InBev banner -- is looking to cut 500 jobs.

The company and the Food and Allied Workers Union are meeting for the first time at the CCMA on Wednesday as part of a Section 189 process.

This comes a day after data from Statistics South Africa showed an increasing trend in job losses over the years.

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This will be the second retrenchment process in as many months for the group after it is said to have retrenched 33 people last year.

The company says the retrenchments are necessary in light of current economic conditions and says it's in line with its merger conditions that the cuts will be limited to specific workers.

Source
eNCA