Business
South African Broadcasting Corporation to Lay Off 600 Staff
South African Broadcasting Corporation Plans to Cut 600 Jobs
South African Broadcasting Corporation (SABC), a leading broadcasting corporation, said it has notified about 600 staff of possible lay off as it struggles to stabilise its finances.
In a statement released by the corporation, “The notice follows the launch of the SABC’s new Target Operating Model – a strategic renewal initiative aimed at transforming the corporation into a financially sustainable, self-sufficient and fit-for-purpose public broadcaster.”
In the 2018/2019 financial year, SABC lost a total of 482 million rand ($27.77 million), more than the 744 million rand lost in 2017/18. Earlier this year, the South African government gave the broadcaster 3.2 billion rand.
With over 3,167 permanent employees and 1,500 independent contractors, staff salary remains the corporation’s biggest expenditure.