No bonuses for Eskom workers as cost cutting takes hold


Eskom has announced that it has placed an embargo on paying its employees bonuses this year due to ongoing financial difficulties.

“All 41,000 people within Eskom are not going to get any bonuses. The primary reason being we are currently engaged in R250 billion capital investment. We need to raise this money to finish the project that we currently are working on,” spokesperson Khulu Phasiwe told Eyewitness News (EWN) late yesterday afternoon.

His announcement comes after the state-owned parastatal last week confirmed the appointment of Transnet Group Chief Financial Officer, Anoj Singh, as its new Acting Chief Financial Officer from August 1st, as well as the extension of current Acting CEO and former Transnet boss Brian Molefe’s contract by a further three months.

“Most importantly, we’ve also set ourselves a number of key performance indicators, which include among others, costs reduction of about R9.8 billion,” Phasiwe said.