Denel promises workers’ July salaries will be paid on time
Denel said it had managed to secure funds to pay this month’s salaries.
JOHANNESBURG – State-owned arms manufacturer Denel has promised that workers would receive their salaries on time in July.
Earlier this week, Denel said as a result of liquidity challenges, workers might not receive their wages on time.
The company said it had managed to secure funds to pay this month’s salaries.
Solidarity’s sector coordinator for defence and aviation Helgard Cronjé welcomed the news.
“As a trade union, we are very relieved and we are glad that the pressure we applied to Denel brought them to a place where they can pay employees on time,” Cronjé said.
Last month, Denel struggled to afford to pay 85% of workers’ salaries.
The company’s revenue fell from R88 billion in the 2016/2017 financial year to just over R8 billion in the 2017/2018 period.