R2.4bn Job Fund Announced

President Jacob Zuma announces the alternative-to-retrenchment scheme, where companies can suspend employees for a maximum of three months while government trains and pays them

Government has thrown a R2.4 billion lifeline to workers who are threatened with retrenchment with a new scheme that will allow companies to suspend them for a maximum of three months while government trains and pays them.

President Jacob Zuma announced the alternative-to-retrenchment scheme as part of a broader plan aimed at limiting the impact of the recession. It was devised by his economic crisis response team where leaders from government, labour and business are represented.

The Framework Response to the Economic Crisis plan will also include support for struggling companies in the auto sector as well as a rescue package for the clothing and textile industry.

To read the article titled, “Govt to help threatened workers,” click here.

Source: 
<br /> Finance24
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