Sasol plans retrenchments

File: The Sasol head office. AFP/Stephane De Sakutin

JOHANNESBURG - Petro chemicals giant Sasol is the latest company to announce planned retrenchments in the wake of COVID-19.

Sasol says it’s started consultations with workers on possible retrenchments as part of what will result in two core businesses.

READ: Sasol's share price plunges

The announcement comes hours after embattled retailer Edcon confirmed that it’s served its 22,000 employees with layoff notices.

Sasol has been hit by cost overruns at its Lake Charles facility in the US.

READ: National petroleum company on the cards

The crash in the oil price in the midst of a COVID-19 impact on the global economy has only worsened matters.

It’s not yet known how many jobs will be on the line as a result of the organisational shake-up.

Source
eNCA

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