JOHANNESBURG – South Africa’s state-run power utility Eskom expects to have 7 000 less staff in five years from now, a senior manager at the utility that is struggling to emerge from a financial crisis said on Thursday.
Cash-strapped Eskom is critical to Africa’s most industrialised economy as it supplies more than 90 percent of its power and is one of its most indebted state firms.
“Eskom intends to reduce headcount from 48 678 to 41 613 by 2023 across all levels through normal attrition,” Marion Hughes, a senior manager at the state-owned utility said in a strategy presentation.
Eskom has R270 billion of state-guaranteed debt and total debt of about R390bn.
President Cyril Ramaphosa appointed a new board at Eskom early this year in one of his first interventions since becoming leader of the ANC. He later secured the backing of senior ANC figures for a radical overhaul of Eskom.
Eskom said last month it was considering selling non-core assets and job cuts after swinging to a full-year loss.