Johannesburg – Imperial Logistics is planning to retrench about 1,000 of its employees in South Africa.
The logistics company says the move forms part of its restructuring and cost-cutting measures, manly thanks to the Covid-19 lockdown.
The company has about 25,000 employees across all its operations globally. The retrenchments will primarily impact its transport and warehousing businesses.
They say they are looking for opportunities that present themselves after the pandemic. This includes strategic acquisitions.
Imperial has lost about R4-billion in revenue because of the impact of the Covid-19 pandemic, which translated into lost operating profit of about R1-billion in the March to May period.
The group’s logistics business was severely impacted because it services the tobacco and liquor sectors that were closed for most of the lockdown period.
The company gets about 20% of its revenue in South Afrijca from logistics.