PIK - Pick n Pay Stores Limited - Pick N Pay and SACCAWU reach agreement
PIK
PIK
PIK - Pick n Pay Stores Limited - Pick N Pay and SACCAWU reach agreement
Pick n Pay Stores Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1968/008034/06)
Share code: PIK ISIN code: ZAE000005443
PICK N PAY AND SACCAWU REACH AGREEMENT
Pick n Pay announced today that the company and SACCAWU had reached an agreement
that would result in no forcible retrenchments due to operational requirements,
and a flexible workforce.
The agreement allows for a flexible workforce of both full-time and
variable-time employees (VTEs) under changed working conditions. This will
allow Pick n Pay to have the right number of employees in the business at the
right times, in line with customer trends and demands. This in turn will
provide for a flexible workforce, which will translate into a more efficient
business.
Pick n Pay confirmed that it offered voluntary early retirement and this
was taken up by some 650 employees. In addition, the numbers of employees
considered for retrenchments reduced over the period that consultations took
place for various reasons including dismissal, resignation and retirement.
For more information please contact:
Neal Quirk on +27 11 856 7510
By order of the board
Cape Town
1 December 2011
Sponsor: Investec Bank Limited
Date: 01/12/2011 08:00:01 Produced by the JSE SENS Department.
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