Business / Companies
TelOne cuts workers salaries
21 Aug 2015 at 01:08hrs | Views
The Zimbabwe's only landline company TelOne has reportedly slashed the workers salaries by 15% with effect from August 1 a development that has sparked out cry from the already suffering workers.
Acciording to a post by Zexie Mashonga of Zimbabwe United Democratic Advocates the State-owned fixed line phone operator TelOne has cut salaries for all staff by 15 percent with effect from August 1 and ruled out paying annual bonuses as part of measures to streamline costs at the cash-strapped parastatal.
TelOne is one of the better performing state-owned enterprises, pulling in about $160 million in revenue in 2014.
TelOne would not be paying the annual bonus at year-end while it has also done away with retention allowances.
Payment of overtime has also been suspended until year-end.
Acciording to a post by Zexie Mashonga of Zimbabwe United Democratic Advocates the State-owned fixed line phone operator TelOne has cut salaries for all staff by 15 percent with effect from August 1 and ruled out paying annual bonuses as part of measures to streamline costs at the cash-strapped parastatal.
TelOne is one of the better performing state-owned enterprises, pulling in about $160 million in revenue in 2014.
TelOne would not be paying the annual bonus at year-end while it has also done away with retention allowances.
Payment of overtime has also been suspended until year-end.
Source - The Source
