The Democratic Postal and Communications Union (Depacu) deputy general secretary, Eric Khumalo, believes that the R2.4 billion taxpayer bailout for the Post Office is not enough to rescue the entity.
According to SABC News, this statement comes after the High Court in Pretoria ruled in favour of the government’s application to place Sapo under business rescue, halting the ongoing liquidation proceedings and opening the path for a bailout.
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Despite this development, Khumalo asserts that the bailout is not enough for the Post Office, stating they welcome the business rescue but stand firm against the retrenchment of seven thousand employees.
Khumalo expresses gratitude for the R2.4 billion injection, believing it will make a difference, but emphasizes that the Post Office still requires further support from the government.
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