Today's Labour News

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groupfiveBusiness Report writes that Group Five has streamlined the business units in its engineering and construction (E&C) cluster from 11 to four, resulting in a simplified management structure and a reduction of 13 percent, or 149, in the number of salaried employees in the business.  

The streamlining of the cluster forms part of a restructuring by the listed construction and engineering group in February that it confirmed at the time would result in further voluntary and forced retrenchments.  Group Five already slashed its number of employees by 23.5 percent, or 2,841 people, between June 2015 and June last year.  In an update on the restructuring process released on Monday, the company said it continued to make progress in the implementation of the restructure of the E&C cluster to unlock shareholder value.  It said the simplified management structure and reduced number of salaried employees in the E&C business was part of the realignment of the cluster’s overhead costs, which were on track.

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