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General

Telkom South Africa says job cuts to cost ZAR 1.5 bln, hitting FY earnings

Monday 16 March 2020 | 14:45 CET | News
Telkom South Africa says its planned job cuts will cost the company ZAR 1.5 billion, which it said will have a negative impact on the 2020 earnings. It issued a market update saying it has commenced phase one of a two-phase restructuring process. The cash outflow related to the restructuring is expected in the first half of the new financial year and available cash resources will be used to fund the process.

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Categories: General
Companies: Telkom
Countries: South Africa
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