SASOL: 48,600 +566 (+1.18%)
White workers at South Africa's Sasol to strike over black share scheme
(Adds detail, Sasol comment)
JOHANNESBURG, Sept 2 (Reuters) - South Africa's mainly white
Solidarity union will begin a strike on Monday at petrochemicals
firm Sasol over a share ownership scheme offered
exclusively to black staff.
Under black economic empowerment rules, South African
companies are required to meet quotas on black ownership,
employment and procurement as part of a drive to reverse decades
of exclusion under apartheid.
"We intend to switch off a different section of Sasol each
day by means of well-laid and strategic plans," the union said
in a statement.
Sasol, world leader in the technology that converts coal and
gas to fuel, said last year it would raise its black ownership
levels in Sasol South Africa to at least 25 percent in a 21
billion rand ($1.5 billion) deal.
Solidarity which has 6,300 members at Sasol's local
operations, said it would embark on the strike action due to the
company’s new staff share scheme excluding white employees which
it previous called "blatant discrimination against loyal Sasol
Sasol which has around 26,000 employees at its local
operations said received notification from the trade union
Solidarity of its intent to strike on Monday and was open
engagement with the union.
"We have activated contingency measures to minimise
potential disruption to our operations," Sasol said in an
(Reporting by Tanisha Heiberg
Editing by Alison Williams)
© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.