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Let them eat cake

Let them eat cake

Business Day reported today that the strike ravaged South African Post Office’s management has dealt another blow to its customers and employees by awarding themselves with salary increases “four times the rate of inflation,” at 26%. This as it offered workers 6.5% and pleaded for a bailout from parliament as it was concerned it would not be able to pay salaries, due tomorrow at midnight.

The parastatal’s net loss has jumped to R359m for the year from R337m the previous year. However, SAPO’s four executive directors and 20 senior managers total salary bill stands at a reported R32,5m in the year ended March, according to the Business Day. This was 26% higher than the R25,8m paid to the executives the previous year.

The Post Office has remained remarkably silent since the strike started in mid-September.

In the meantime private courier companies are reporting a significant spike in business. Many municipalities are turning to electronic billing as they face a second month without being able to get bills to residents. 


By Jenni McCann

Sources:

Business Day

Tech Central

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