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Business Report writes that construction group Stefanutti Stocks reduced its employee headcount in the past two years from about 13,000 to 10,000 people as the number of its construction projects shrank.
CE Willie Meyburgh said on Thursday that the group was forced to proactively rightsize the business and expected a further reduction in the headcount in the next few years. His comments followed the Construction Industry Development Board this week reporting that the industry shed 140,000 jobs between the first and second quarters of this year and the job losses by the industry totaled about 240,000 jobs this calendar year. Meyburgh said trading conditions remained extremely challenging and, although there were opportunities, they were fiercely contested. However, mining houses were putting out more work for tender for mining infrastructure and there were extremely good opportunities for open-pit mining. On the infrastructure side, roads and bridges, marine and water and sanitation continued to offer opportunities. Meyburgh commented: “It’s not that the opportunities are not there. It’s just that it takes so damn long to come to the market place, which is really what’s causing pressure on our business.”
- Read an extended summary of this report by by Roy Cokayne at SA Labour News
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