Telkom Targets $480 Million in Cost Reductions as It Cuts Jobs
This article is for subscribers only.
Telkom SA SOC Ltd., Africa’s biggest fixed-line operator, plans to reduce its costs by 5 billion rand ($480 million) by 2019 as it seeks discussions with labor unions about cutting staff.
“The desired cost reduction includes inflation and is across the entire business in every aspect that lends itself to cost containment,” the company said in an e-mailed response to questions today. Telkom said it aims for annual savings of 1 billion rand per year.