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PetroSA employees opt for voluntary severance packages

PetroSA says they're hoping the various cost-cutting strategies will prove successful.

Picture: PetroSA.

CAPE TOWN - PetroSA says many of its employees have now opted to take voluntary severance packages put on the table since October.

The troubled parastatal implemented a cost-cutting method after its poor financial performance during the last financial year where it reported a loss of R14,6 billion.

On Friday the company announced it had terminated the contract of its Chief Financial Officer Lindiwe Bakoro.

This comes two months after it parted ways with CEO Nosizwe Nokwe-Macamo.

The two are among three executives suspended amid an investigation into their performance in relation to the parastatal's poor financials.

PetroSA's spokesperson Thabo Mabaso says they're hoping the various cost-cutting strategies will prove successful.

"We have received a lot of support from employees, they indicated the willingness to take severance packages. A very good number of employees are committed to the company who want to see things through and want to see the company turn things around."

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