Trade Unions Warn Against Consequences of Wal-Mart Deal
Ebrahim Patel, the Economic Development Minister, along with Rob Davies, the Trade and Industry Minister and Tina Joemat-Pettersson, the Forestry and Fisheries Minister have lodged an application in Competition Appeal Court, as an attempt to estimate and hold forecasted 51% Massmart overtake by Walmart's.
“Conditions must be imposed that address the pre-merger retrenchments, the impact of the merger on workers' conditions in the retail sector and its supply chain”, added Saccawu while briefing its main goal.
On the other hand, on Monday, the Congress of South African Trade Unions in collaboration with SA Commercial, Catering and Allied Workers Union (Saccawu) and Food and Allied Workers Union has raised concerns against the job loss and notified that the Massmart-Wal-Mart merger deal has casted significant impacts on almost every sphere, not only on jobs in the retail sector.
The labour unions have anticipated negative consequences of the R16.5 billion deal, especially on the manufacturing sector of the South Africa while marking their presence in a joint press conference organized in Johannesburg. Further, they have tagged manufacturing units for the foundation of the economy as well as for providing new growth opportunities.
In addition, the General Secretary of the Cosatu, Zwelinzima Vavi, has pinpointed several sectors including garments and textile, various durable goods and electrical equipments foe experiencing major influence from the imports. Besides imports, they are also believed to have major impacts from the Wal-Mart deal and claimed that retail sector would be the most affected area.
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