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S.Africa’s Eskom says savings to offset severance packages’ cost

JOHANNESBURG, Feb 13 (Reuters) – South Africa’s struggling state power utility Eskom said on Thursday that the cost of offering voluntary severance packages to some managers would be offset by savings.

“Eskom will ensure that no critical skills will be lost as a result of the programme,” Eskom said in a statement. “Eskom will spend 400 million rand ($27 million) in order to cut overhead costs. This will be recouped through savings within a year.”

($1 = 14.8803 rand) (Reporting by Alexander Winning; editing by Olivia Kumwenda-Mtambo)


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