Close Menu
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact

Subscribe to Updates

Get the latest technology news from TechFinancials News about FinTech, Tech, Business, Telecoms and Connected Life.

What's Hot

Rise In E-Commerce Activity Boosts SA’s Supply Chain Sector

2025-07-16

iPhone 17 Pro May Return To Aluminum Alloy Body

2025-07-16

LEPAS Debuts In South Africa 2026 To Redefine Premium SUVs

2025-07-16
Facebook X (Twitter) Instagram
Trending
  • Rise In E-Commerce Activity Boosts SA’s Supply Chain Sector
Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp RSS
TechFinancials
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact
TechFinancials
Home»Boardroom Games»Cell C Violates Recapitalization Conditions with Retrenchments Notice – Union
Boardroom Games

Cell C Violates Recapitalization Conditions with Retrenchments Notice – Union

Staff WriterBy Staff Writer2020-06-19Updated:2020-06-21No Comments2 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
CELL C
CELL C
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Information Communication Technology Union (ICTU) said on Friday it was surprised by Cell C’s sudden notification that it plans to retrench as much as 960 out of 2500 total staff complement.

This is more than one-third of the total workforce at the Bargaining Level, where the ICTU, which is the sole workers representative, has a vast majority of the membership.

ICTU said it is enraged by thus unlawful notification because CellC hasn’t officially notified the Union about its plans to retrench and why Cell C is violating the conditions set out on recapitalization application made out to the Competition Commission.

“One, if key conditions were that recapitalization support by the Competition Commission, will include guaranteeing job security of workers,” said ICTU.

“This retrenchment notification to workers follows retrenchments at senior management team were 30 executives decided to take severance packages and CellC successfully reduced its executive structure from 135 to almost 100. Those retrenchments were to ensure that there is sufficient financial liquidity to support the recently appointed CEO Douglas Craigie-Stevenson turn around strategy.”

CellC claims that the retrenchments are as a result of :

(1) Enhancing Operational Efficiencies

(2) Improve and support Network strategy

(3) Improve Cash liquidity to support the trunk around strategy.

(4) Support Recapitalization efforts

The ICTU said it is reliably informed that Cell C’s positive financial performance has been increasing steadily since before the lockdown period and has performed much better during the lockdown period.

ICTU has communicated it’s displeasure to CellC management and hopes to get an urgent meeting  to engage on this matter.

“In the meantime, ICTU is readying it’s vast majority membership to be ready for the battle of their livelihood.”

Blue Label Telecoms Cell C ICTU Information Communication Technology Union
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Staff Writer

Related Posts

Rise In E-Commerce Activity Boosts SA’s Supply Chain Sector

2025-07-16

LEPAS Debuts In South Africa 2026 To Redefine Premium SUVs

2025-07-16

Fuse Lit: SA’s U.S. Tech Bomb ‘Nears Detonation’

2025-07-16

US Denies Mcebisi Jonas’ Visa, Rejects Credentials As Ramaphosa’s Envoy

2025-07-15

How Agri-Tech Is Powering South Africa’s Cannabis Boom

2025-07-15

Ithuba Challenges Lottery Licence Award

2025-07-14

Takealot Expands Pickup Points At Pick n Pay For Shopper Convenience

2025-07-14

Vodacom Deploys Mobile Private Network At Sasol Secunda Fuel Facility

2025-07-04

SAPS Launches Long Awaited e-Recruitment Drive

2025-07-01
Leave A Reply Cancel Reply

DON'T MISS
Breaking News

Rise In E-Commerce Activity Boosts SA’s Supply Chain Sector

Despite facing ongoing challenges, South Africa’s supply chain sector is experiencing growth fuelled by a…

LEPAS Debuts In South Africa 2026 To Redefine Premium SUVs

2025-07-16

How Agri-Tech Is Powering South Africa’s Cannabis Boom

2025-07-15

Ithuba Challenges Lottery Licence Award

2025-07-14
Stay In Touch
  • Facebook
  • Twitter
  • YouTube
  • LinkedIn
OUR PICKS

Fuse Lit: SA’s U.S. Tech Bomb ‘Nears Detonation’

2025-07-16

US Denies Mcebisi Jonas’ Visa, Rejects Credentials As Ramaphosa’s Envoy

2025-07-15

Takealot Expands Pickup Points At Pick n Pay For Shopper Convenience

2025-07-14

DA Urges President: Fire Minister Nkabane Now – Open Letter

2025-06-25

Subscribe to Updates

Get the latest tech news from TechFinancials about telecoms, fintech and connected life.

About Us

TechFinancials delivers in-depth analysis of tech, digital revolution, fintech, e-commerce, digital banking and breaking tech news.

Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp Reddit RSS
Our Picks

Rise In E-Commerce Activity Boosts SA’s Supply Chain Sector

2025-07-16

iPhone 17 Pro May Return To Aluminum Alloy Body

2025-07-16

LEPAS Debuts In South Africa 2026 To Redefine Premium SUVs

2025-07-16
Recent Posts
  • Rise In E-Commerce Activity Boosts SA’s Supply Chain Sector
  • iPhone 17 Pro May Return To Aluminum Alloy Body
  • LEPAS Debuts In South Africa 2026 To Redefine Premium SUVs
  • Fuse Lit: SA’s U.S. Tech Bomb ‘Nears Detonation’
  • Gwede Mantashe Named Acting Minister Of Police
TechFinancials
RSS Facebook X (Twitter) LinkedIn YouTube WhatsApp
  • Homepage
  • Newsletter
  • Contact
  • Advertise
  • Privacy Policy
  • About
© 2025 TechFinancials. Designed by TFS Media.

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.