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Telkom is aware of speculation regarding retrenchment of some 13 000 employees and wishes to place it on record that no such decision has been taken.
The Company recently announced voluntary separation and voluntary early retirement process to its employees which emphasised that the decision to apply for a package is at the sole discretion of every employee.
No employee is obligated to invoke this offer. Importantly, this is not a Section 189 process in disguise and this is not the first time Telkom has made this offer available to all categories of employees.
Furthermore the outcome of this process will not be assessed on the reduction of the number of employees, but on the overall impact of the Company’s cost structure. This will be monitored continuously throughout the process to ensure that the Company reaches the desired state of cost efficiency.
Please refer also to Telkom’s earlier media release dated 11 March 2013: click here.
Pynee Chetty Senior Specialist: Media Relations Group Communication Tel:+27 12 642 1716 Mobile: +27 81 389 7874 Email: chettpr2@telkom.co.za |
OR |
Leigh-Ann Francis Specialist: Media Relations Group Communication Tel: +27 12 642 1728 Mobile: +27 81 391 4780 Email: francilm@telkom.co.za |
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Telkom is a leading communications services provider in South Africa. We had consolidated operating revenue of R16.8 billion and normalised profit after tax of R1, 683 million for the period ended 30 September 2015. Total assets amounted to R41.9 billion and equity attributable to the owners of Telkom to R23.5 billion as of 30 September 2015. The group generated normalised free cash flow of R1.4 billion for the period ended 30 September 2015.
As of 30 September 2015, we had approximately 3.3 million telephone access lines in service and 1,030,441 ports connected via MSAN access. We offer business, residential and payphone customers a wide range of services and products, including:
Convergence is one of our key strategic initiatives in building a sustainable future for Telkom. We will lead the provision of converged services in South Africa in support of our mission statement: Seamlessly connecting people to a better life.