Economic problems: 1,800 people might be fired at Game by Mass Mart
(005875.811-:E-000062.43:N-AC:R-SU:C-30:V)
Retailer Massmart Holdings has started talks with unions to cut up to 1 800 jobs at the company’s struggling Game stores as constrained spending and the new coronavirus weigh on performance, the company said on Tuesday.
Majority-owned by Walmart and operator of supermarkets and wholesalers such as Makro and Game, Massmart said talks began after it assessed the efficiency of the stores.
Massmart said it was implementing a new operating model at Game after its “indifferent performance in the 2019 financial year” and the negative impact of trading restrictions because of the pandemic on sales.
The company said it would not close any of its Game stores, however.
Game, a general merchandise chain, has been a drag on group profit as financially-constrained customers prioritise spending on non-durables, such as food, over spending on goods such as appliances.
Massmart earlier in the year said it would cut costs and restructure into wholesale and retail units, but the impact of the virus has accelerated some of the turnaround strategies.
The group lost R4.6 billion in sales during a strict nine-week lockdown.
The potential job cuts would represent around 3% of Massmart’s total workforce.
Job cuts are a politically-sensitive issue in South Africa, where unemployment stands at around 30%.
Game joins some of the country’s big firms such as steel producer ArcelorMittal South Africa Ltd, food producer Tiger Brands and third-biggest telecom operator Cell C, which have already announcing plans to cut jobs.
Source: https://www.moneyweb.co.za/news/companies-and-deals/massmart-says-1-800-game-jobs-at-risk-2/
Video & Audio: Rhodesia to Zimbabwe: Do Blacks cause massive climate damage?
Why are there so many droughts in Zimbabwe, almost for 15 years running and now these are impacting South Africas weather patterns like never before.
Video: What Adolf Hitler said about the Boers
I decided to look in Adolf Hitlers Mein Kampf (My Struggle) to see what he said about the Boers. Few know of his obsession with the Boers when he was a young man. In Mein Kampf I found many references which indicated that Hitler had a knowledge even of the black tribes that live in South Africa.
White Shop: Fire Force: A Troopers War In The Rhodesian Light Infantry
This is the best book Ive read about Rhodesia which describes the life of a young soldier who is in the Fire force. These guys were called into battle several times a day and the fighting was hectic. This book is very well written and you never get bored.
