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Distribution and Warehousing Network to cut 700 jobs, finance chief retires
Aug 28 (Reuters) - South Africa's Distribution and
Warehousing Network Ltd said it would cut 700 jobs as
part of a restructuring plan and its finance chief Chris Booyens
will retire by the end of the month.
It said Hanre Bester, current group financial manager, will
replace Booyens as financial director.
The company, which makes hardware, sanitary ware, plumbing,
kitchen and engineering products, has struggled with a tough
trading environment on the back of poor economic conditions in
"...economic conditions have deteriorated further and are
not expected to improve in the current financial year," it said
The plan will include a job cuts and lower spend on support
services and infrastructure, the company, which operates in
South Africa and selected countries in the rest of Africa and
(Reporting by Muvija M and Shashwat Awasthi in Bengaluru;
editing by David Evans)
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