More than 3,000 employees accept severance package
South African Airways (SAA) has approved the voluntary severance packages of over 3,000 employees. This forms part of the company’s winding down of the state-owned entity following the approval of the business rescue process last month.
SAA is retrenching over 3,700 employees as part of its restructuring process. A total of 3,142 SAAemployees have appliedfor the voluntary severance packages.
They’re made up of 1,744 ground staff, 978 cabin crew, 184 pilots, 135 specialists and 101 members of management. The approval of their retrenchments means they receive, among other things, a 13th cheque, one week's severance pay, a one-month notice period and leave paid out. This is effective to when the creditors endorsed the business rescue plan published last month.
The new SAA needs more than R10 billion to get off the ground.
