- July 26, 2010
- Posted by: admin
- Category: Clothing and Textiles
The SA Clothing and Textile Workers Union is negotiating with the management of a company owned by its investment company, to save 800 workers faced with retrenchment.
This after weekend reports the Seardel group was planning to shut down its Intimate Apparel division, based in Epping, by November.
Sactwu owns about 40 percent of Hosken Consolidated Investments (HCI), which in turn owns 70 percent of Seardel.
Sactwu had bought the struggling group for R200 million of workers’ money, promising them that its move would save jobs, but the now the opposite has happened.
Source: Business Report – Quinton Mtyala