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Eskom sets deadline for applications of cash separation packages

The cash-strapped power utility is offering its managers exit packages as it tries to claw back on a bloated wage bill.

FILE: Eskom offices at Megawatt Park in Johannesburg. Picture: EWN.

JOHANNESBURG - Eskom employees will be allowed to apply for cash separation packages until the end of this month.

The cash-strapped power utility is offering its managers exit packages as it tries to claw back on a bloated wage bill.

The power utility has racked up about R450 billion in debt and is planning to implement the retrenchment plan as part of its turnaround strategy.

The Eskom board has set aside approximately R400 million to implement the limited separations.

The utility said the voluntary packages would be open to qualifying workers who occupied non-core managerial positions.

But employees aged between 60-62 will be allowed to take up the offer irrespective of the role they play in the company.

While experts have been warning of inevitable mass lay-offs at Eskom for some time now, the utility said “no employee would be coerced to apply or register” for the retrenchments.

Labour has long warned of a revolt if job cuts were introduced at the state-owned entity.

Eskom said it would ensure that no critical skills were lost as a result of the process for voluntary exit packages rolled out at the utility.

The board has put aside R400 million to carry out the plan, with the company confident it will recoup the money through subsequent savings within just a year.

Spokesperson Sikonathi Mantantsha explained: “This process will be done during March and April. The aim is to reduce the headcount costs.”

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