Today's Labour News

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autopaxlogoBusinessLive reports that employees of Autopax will get the balance of their salaries on Thursday after the operator received a R20.9m loan from its troubled parent company the Passenger Rail Agency of SA (Prasa).  

Autopax operates intercity buses Translux and City to City.  The loan was issued after 1,071 Autopax employees were paid only 25% of their salaries at the end of February, highlighting the company's cash flow crisis and raising questions about its turnaround strategy’s efficiency.  “The bus company’s staff members can expect the balance of their salaries in their bank accounts on or before Thursday March 5 2020. Prasa apologises to Autopax employees for the inconvenience they have suffered as a result of incomplete salaries being paid.  Furthermore, Prasa will make every effort to ensure that in future salaries of Autopax employees are paid in full and at the contractually agreed date,” Prasa spokesperson Makhosini Mgitywa advised.  Autopax spends about R28m per month on staff salaries.  In 2019 the company’s losses increased to R442m from R345m in the previous year.   It is apparently in the process of making representations to Prasa with a view to finding a “lasting solution” to its cash flow crisis and many other problems facing the bus company.

  • Read the full original of the report in the above regard by Luyolo Mkentane at BusinessLive

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