Necsa cancels retrenchments in light of turnaround

The South African Nuclear Energy Corporation (Necsa) has achieved a turnaround of more than R100-million in just one financial year, from a deficit of R75-million at the start of the 2012/13 financial year to a surplus of R29-million at the end of the period. As a result, a planned programme of retrenchments has been cancelled.

“We looked at efficiencies in running our business and cutting costs to release funds for operations. This was achieved through a combination of austerity measures and the freezing of vacancies,” explains Necsa CEO Phumzile Tshelane (who took up his position on September 1 last year). “By January, it was clear we wouldn’t need retrenchments. There was money in the company, sufficient for operations and to pay our people. We looked at the shape and size of Necsa. A much more streamlined structure will be adopted, with effect from September 1 – instead of eight divisions, there will be five, with two led by divisional executives and three by group executives.”

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