Superbalist announces retrenchments of employees

Zuko Komisa

Superbalist announces retrenchment following parent company Takealot’s financial losses.

Superbalist has reportedly begun the process of laying off employees.

According to ITWEb, this comes after parent e-commerce giant company Takealot reported a deficit for its most recent financial year of $ 22 million (R420 million),

Superbalist stated that it is acutely aware of the potential effects that a change in business practices may have on its employees.

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In a statement by the Superbalist shared by ITWEb, the company outlined the impact of a lack of growth post-Covid 19.

“Like many other businesses, we are faced with the reality that growth post-COVID-19 has not reached the levels that had been forecast. As such, we need to re-evaluate our structures to ensure the business operates effectively in this current economic environment,”

“We are deeply conscious of the impact a change in business operations may have on our people. Our first and most important focus is on doing what is right for them, while still being conscious of the decisions we must make to deliver a business geared for a long-term future.”

“These actions remain unrelated to the rest of the group. Each operating company is measured against its own strategy and performance.” Superbalist said.