Pick `n Pay Stores / Pick `n Pay Holdings - Pick `N Pay Strike Update 01 August
2005 At 21h00
Pick `n Pay Stores Limited Pick `n Pay Holdings Limited
Share code: PIK Share code: PWK
ISIN code: ZAE000005443 ISIN code: ZAE000005724
PICK `N PAY STRIKE UPDATE 01 AUGUST 2005 AT 21H00
STRIKE OVER
(Johannesburg 01 August 2005) Pick `n Pay CEO Sean Summers said today that the
agreement reached with SACCAWU at R325 across the board will result in an
overall increase in the company`s labour bill of some 7.2%.
The total turnover cost to Pick `n Pay over the 11 days was R73-million.
Pick `n Pay Retail MD Nick Badminton said: `As part of the settlement, the
parties have committed to urgently embark on a process that will lead to
increased productivity as well as the adaptation of trading hours and working
shifts. A commitment has also been made to dealing with the relationship post
the strike.
`A small number of employees earning more than R4100 per month will receive an
8% increase.`
Said Summers: `We`d like to apologise to our customers for any inconvenience
they may have experienced and thank them for their support and patience
throughout.
`Both parties are pleased to have resolved the dispute and look forward to
improving the relationship looking forward.`
2 August 2005
Sponsor: Investec Bank Limited
ENDS
For further information, please contact Tamra Veley on 083 251 3658.
Date: 02/08/2005 09:32:05 AM
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