MTN SA to cut 850 jobs

Union official confirms a “massive retrenchment notice”
Africa, Job cut, MTN, Operator, SA, Telecom

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MTN South Africa plans to cut 850 managerial staff, according to Reuters. An official from Solidarity Union said that the process could be concluded by the end of October.

According to its website, MTN South Africa has nearly 6,200 employees. In the last 12 months, the company cut 138 employers.
The company published reduced revenues in its latest results. However, MTN is still the leader in South Africa, in competition with Vodacom, and Cell C although increased competition has meant price reductions.

MTN's revenue from South Africa fell by 7% to 19.2 billion rand ($1.8 billion) in the first half of this year while margins also declined. Its market share dropped by nearly three percentage points to 31.9%.

Reuters said that MTN's chief human resources officer Themba Nyathi confirmed that the company had begun restructuring to improve efficiency but said the process is at an early stage. 

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