Cosatu on Thursday (9 February 2012) said it was outraged by the alleged announcement by the Seardel group which “threatened to close a number of companies” that would effectively put hundreds of workers out of a job.
“Seardel as a group has taken millions of rand from government programmes to shore up their company and they were meant to restructure the operations and make it more effective. The money seems to have been pocketed as the cars and bonuses of directors are as extravagant as always and the companies are still struggling,” it said.

Cosatu called on the unions and the workers to resist the attempts to close the companies, and said it would do all it could to assist them in the process.

“Often companies who manufacture here close down their companies and then import the products from China and they just sew the Proudly SA label into the clothing. This gives them a chance to sell cheap Chinese imports and make super profits,” the union said.

Source: I-Net Bridge