after Telkom announced last year it would decommission its copper network in favour of fibre. Its consumer business and wholesale division will be affected.
The telecoms firm has opted to move away from its legacy copper business in favour of more advanced, affordable tech.
Telkom’s shares have slumped from a major high of more than R100 last year. The price plunged to just R29.42 per share before recovering somewhat this week. The price is now about R35.
The company said the retrenchments would be necessary due to market conditions, regulatory uncertainty and an overly competitive environment.
The firm is also grappling with organisational and operational inefficiencies linked to fixed voice and data services, which require more staff to install, maintain and market, it said in a letter to unions.
The body of a man killed in a hit and run accident late on Sunday night along the R55 in Olievenhoutbosch can be seen covered in a blanket.