telecom

SA’s Cell C plans to close 128 outlets, trim staff

August 26, 2020

(Ecofin Agency) - South African mobile operator Cell C plans to tighten its restructuring plan to better cope with the financial pressure. The company -which has been engaged since June 2020 in a workforce reduction plan targeting 960 employees, including junior managers and semi-skilled staff- plans to shed another 546 employees through the closure of 128 stores across the country. The target objective is still to reduce expenses and stabilize finances.

In a press release, relayed by standardmedia.co.ke, Cell C, which currently has 2,500 employees and 240 stores in South Africa attributes its strategy to the changing retail environment. A change accentuated by the impact of Covid-19 which has rapidly changed consumer buying habits.

“The retail environment has changed and this has been fast-tracked by the impact of COVID-19 and the evolving purchasing habits of consumers,” Cell C said.

“Much like banks are moving away from brick and mortar branches, Cell C is embracing digital solutions and driving digital inclusion by leveraging collaborations and partnerships,” the company explained.

In early August 2020, Cell C said it was still looking for solutions to improve its liquidity, debt profile, and long-term competitiveness as part of its turnaround strategy. With the 546 new positions to be cut, a total of 1,506 people could be out of work by the end of the year.

ecofinagency

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