Shares in fixed line operator Telkom dropped 16% on Friday after the company said job cuts will cost R1.5bn, which will have a negative impact on its full-year earnings. The group has started the first phase of its retrenchment process that will result in a total of 3,000 jobs being lost. In afternoon trade the share price was down to R3.
Posted: 2020-03-13 16:52:00
