Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News January 29, 2014 at 03:06PM

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VENTURES AFRICA – JSE-listed hotel operator, Sun International, on Monday said a consultative process aimed at restructuring the company’s South African operations was underway and about “1700 positions could be affected” if the process was to go ahead.

Sun International, which also has operations in Namibia, Zambia and Nigeria, said it had undertaken a complete review of its South African businesses, paying more attention on efficiency, productivity, revenues and profit improvement.

“The review process has identified opportunities to achieve these objectives and establish a stronger cash flow for the continued success of the company in the medium to long term,” it said.

If it does come, the restructuring process would come shortly after the firm’s Chile-based business was restructured in the last three months of last year. The hotelier said it had consulted all stakeholders including organised labour.

But the fact that most restructuring programmes involve job losses may not go down well with the representative trade unions. The company did not state when it will start with the restructuring process and how long it will take.

It was also not clear if workers will lose their jobs during the process.

The company is unsatisfied with revenues from its casino businesses.

 

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