It was all done on a voluntary basis… with sensitivity and compassion…— Richard Brasher, Pick n Pay CEO
This makes sure we’re robust in an economy that is lacklustre.— Richard Brasher, Pick n Pay CEO
No executive takes pleasure in asking people if they’d like to go.— Richard Brasher, Pick n Pay CEO
Pick n Pay will cut 3500 of its employees' jobs.
It employs about 35 000 people.
This comes in the wake of South Africa’s first recession in only eight years and consumer and business confidence levels at multi-year lows amid political turmoil.
Jobs will be cut at its head office, in the company's regional structure, store operations and in its supply chain.
…The reduction in employee numbers will have a significant positive impact on the operating costs of the group…— Richard Brasher, Pick n Pay CEO
Shares in Pick n Pay were up 2.9% on Monday.
The Money Show’s Bruce Whitfield interviewed Richard Brasher, CEO at Pick n Pay.
Listen to the interview in the audio below (and/or scroll down for more quotes from it).
We’ve had an ambition to reset parts of our business.— Richard Brasher, Pick n Pay CEO
Many of our staff did actually appreciate the offer.— Richard Brasher, Pick n Pay CEO
This has been done by working with our staff. Only volunteers took up our offer.— Richard Brasher, Pick n Pay CEO
This is an opportunity to put our business properly in shape.— Richard Brasher, Pick n Pay CEO
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
The Money Show’s Bruce Whitfield interviews the advertising expert about the best and worst new advertisements.
The Money Show’s Bruce Whitfield interviews Curro Holdings CEO Andries Greyling.
The Money Show’s Bruce Whitfield interviews Personal Finance Journalist Maya Fischer-French.
Struggling to make ends meet? Bruce Whitfield interviews Nokwethu Khojane, cofounder of group buying company Lakheni.
The Money Show’s Bruce Whitfield interviews Logan Attorneys Consumer Law Specialist Stephen Logan.
The Money Show’s Bruce Whitfield interviews Gore about his attitude to money (hopes and fears, successes and failures, etc.).
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.
Makhabane says Ncwane was feeling weak yesterday and his wife phoned paramedics to check on him.
The Clothing Bank gives women access to discounted merchandise and 500 hours of training in money management and business skills.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?
The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explains.