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Pick n Pay shares slip after retrenchment costs warning - Business Day

The Pick n Pay share price recovered to close stronger on Monday following news the half-year earnings figure would take a hit from the most severe staff reduction programme yet implemented at the retail group. The share price initially fell 3.4% to ...and more »

Pick n Pay's retrenchments plans schocking - COSATU - Politicsweb

COSATU is shocked by the recent reports by Pick n Pay that it is planning to cut 10% of its workforce. This means that up to 3 500 jobs will be lost and thousands of peoples livelihoods will be compromised. This is regrettable considering the fact that ...and more »

SA's Pick n Pay Workers vs Technology Leads to Job Cuts - (blog)

South Africa's Pick n Pay initiated a voluntary severance package (VSP) in April to remove 10% of roles and functions in its business because of improvements in technology. The retailer said on Monday in its trading update published on the JSE that the ...and more »

South Africa's Pick n Pay cuts 3500 jobs, warns on H1 - Times LIVE

Pick n Pay has cut 10% of its staff, eliminating approximately 3,500 jobs, the South African grocer said on Monday, as the country grapples with its first recession in eight years. Most of South Africa's retailers have flagged lower or stagnant profits ...and more »

Pick n Pay sheds thousands of jobs in voluntary severance programme - DestinyConnect

Pick n Pay says the job cuts mean shareholders can expect a 20% drop in earnings per share. In an effort to improve operating costs and to ensure future sustainability, South African retailer Pick n Pay Stores Limited announced on Monday that it had ...and more »

Technology is killing jobs at Pick n Pay – but that's not the whole story - BusinessTech

Retailer Pick n Pay said in business and trading statement on Monday that it has removed a chunk of its roles and functions due to improvements in technology, among other things. “Through its work to improve the efficiency and productivity of its ...and more »

Pick n Pay CEO: We had no choice but to offer voluntary retrenchment - Eyewitness News

The company has confirmed that workers were offered packages as the company cites harsh economic conditions. Picture: Supplied. Pick n Pay · Retrenchments. Email; Print. Share · Ray White | 11 months ago. JOHANNESBURG - Pick n Pay CEO Richard ...and more »

Short-term pain as retrenchments hurt Pick n Pay's half year earnings - BizNews

After an initial pull back, Pick n Pay's share price jumped more than 3 percent by noon on Monday. The grocery chain expects half year earnings to fall 10-20 percent after a voluntary severance programme saw it cut back 10 percent (or 3,500) of its ...and more »

Pick n Pay cuts 10% of its jobs - Independent Online

Bloomberg - Pick n Pay Stores Ltd eliminated thousands of positions as South Africa's second-biggest supermarket chain further reduces costs to help combat waning consumer confidence and increasing competition. The retailer removed about 10% of its ...and more »

Pick n Pay sheds 3500 jobs - eNCA

JOHANNESBURG - Pick n Pay on Monday said it had cut around 3,500 jobs -- 10 percent of its workforce -- in a bid to curb costs in an economy battling a recession. "The voluntary severance programme is one of several steps we have taken to make our ...and more »