Retrenchment in SA is ‘one of the gravest situations in the world’
SA has more jobless people than Germany, Poland and the US combined - and it's getting worse
Retrenchments in SA in the second quarter of this year have shot up more than 27% from 2018, ringing alarm bells for the economy.
Commission for Conciliation, Mediation and Arbitration (CCMA) spokesperson Dumisani Mavundla told Times Select the number of companies approaching the council for retrenchments increased from 137 between April and June last year to 185.
This resulted in 6,589 retrenchments in the three-month period this year, compared with 5,168 jobs that were lost this time last year. That is 1,421 retrenchments more in 2019 than in 2018, or a 27.4% increase...