{"id":707,"date":"2020-01-14T14:26:35","date_gmt":"2020-01-14T14:26:35","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=707"},"modified":"2020-01-14T14:26:35","modified_gmt":"2020-01-14T14:26:35","slug":"south-africas-massmart-could-cut-1440-jobs","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/south-africas-massmart-could-cut-1440-jobs","title":{"rendered":"South Africa’s Massmart could cut 1,440 jobs"},"content":{"rendered":"

South Africa\u2019s Massmart Holdings could cut up to 1,440 jobs under a plan to close some stores, the retailer said on Monday as it struggles to grow sales in a tough economy.<\/p>\n

Massmart, majority owned by U.S. retail giant Walmart, swung to its first half-year trading loss in two decades last August, as low growth, high unemployment and a rising cost of living hurt South Africans\u2019 spending power.<\/p>\n

The retailer said in a statement it had started consultations with unions and other stakeholders around the closure of up to 34 stores, following a review that identified a number of outlets that were underperforming.\u201cA total of 34 Dion-Wired and Masscash stores and approximately 1 440 employees are potentially affected by this process,\u201d it said.<\/p>\n

Dion-Wired is Massmart\u2019s electronics and appliances subsidiary, while Masscash is its wholesale division including cash and carry, food and cosmetics outlets.Massmart shares, which sunk to a 13-year low last year after the retailer issued a profit warning, were up 2.4 per cent by 0853 GMT.<\/p>\n

A number of Massmart\u2019s rivals, such as Shoprite, are also struggling in the difficult market conditions, and both retailers have also had to battle currency weakness elsewhere in Africa, especially Zimbabwe and Nigeria.<\/p>\n","protected":false},"excerpt":{"rendered":"

South Africa\u2019s Massmart Holdings could cut up to 1,440 jobs under a plan to close some stores, the retailer said on Monday as it struggles to grow sales in a tough economy. Massmart, majority owned by U.S. retail giant Walmart, swung to its first half-year trading loss in two decades last August, as low growth, […]<\/p>\n","protected":false},"author":84,"featured_media":708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[420,419],"class_list":["post-707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-massmart","tag-shoprite"],"yoast_head":"\nSouth Africa's Massmart could cut 1,440 jobs - kenya<\/title>\n<meta name=\"description\" content=\"South Africa\u2019s Massmart Holdings could cut up to 1,440 jobs under a plan to close some stores, the retailer said on Monday as it struggles to grow ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/south-africas-massmart-could-cut-1440-jobs\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa's Massmart could cut 1,440 jobs\" \/>\n<meta property=\"og:description\" content=\"South Africa\u2019s Massmart Holdings could cut up to 1,440 jobs under a plan to close some stores, the retailer said on Monday as it struggles to grow ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/south-africas-massmart-could-cut-1440-jobs\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-14T14:26:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/01\/thumb_south_africas_massm5e1d493fdccf1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/south-africas-massmart-could-cut-1440-jobs#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/south-africas-massmart-could-cut-1440-jobs\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Africa’s Massmart could cut 1,440 jobs\",\"datePublished\":\"2020-01-14T14:26:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/south-africas-massmart-could-cut-1440-jobs\"},\"wordCount\":207,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/south-africas-massmart-could-cut-1440-jobs#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/01\/thumb_south_africas_massm5e1d493fdccf1.jpg\",\"keywords\":[\"Massmart\",\"Shoprite\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/south-africas-massmart-could-cut-1440-jobs#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/south-africas-massmart-could-cut-1440-jobs\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/south-africas-massmart-could-cut-1440-jobs\",\"name\":\"South Africa's Massmart could cut 1,440 jobs - 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