Cape Times.png Gupta-owned firm forced to retrench Sahara lays off 40 Heidi Giokos, in Johannesburg, for Cape Times, 2 June 2016 Gupta-owned company Sahara Computers retrenched 40 workers on Thursday after it failed to resolve an ongoing battle with South Africa's major banks. The banks have closed down accounts operated by Gupta companies, including Sahara. The controversial family and its defenders have argued that as many as 7 500 people employed by their company, Oakbay Investments, and its subsidiaries stood to lose their jobs if the accounts were not reopened. Independent sources have disputed these figures, however, and put the total number of people employed by the Guptas at less than half the claimed figure. Independent Media has been notified by an anonymous source that the Sahara CEO Stephan Nel addressed staff at the information technology company on Thursday about the viability of the business and what the future holds for its employees. Sahara employed just over 200 people before the retrenchments announced on Thursday. FNB, Absa and Standard Bank shut down bank accounts belonging to the controversial Gupta family after a series of scandals involving their use of President Jacob Zuma's name to gain influential political and economic favour. So-called state capture by the family has led to an inquiry by the ruling ANC and led to growing calls for Zuma to be recalled from his position before the end of his party term next year. But sources in the company said Nel told staff that Sahara face a politically-motivated campaign against them, similar to that faced by other Gupta companies. He said whatever the conclusions of the ANC's probe into the Guptas and state capture, "the damage had been done". This ongoing saga around the Guptas and the banks has resulted in the withdrawal of various other services to Sahara and other Oakbay companies. Avis, Hewlett Packard Audit firm KPMG , car rental agency Avis, petrol card company Equestra, WesBank and hardware manufacturer Hewlett Packard are some of the major names to abandon business with the Guptas. "The simplest bank transfers which would normally take minutes have been taking days. We have pleaded in vain with the banks to reopen our accounts. "We've still had nothing even resembling an explanation from the banks for their actions," Nel told staff in a written address on Thursday. Nel added that the company's goal was to create more jobs. This however has not been possible as those that are still currently employed with the company are not guaranteed jobs in the company. Sahara warned that further retrenchments were inevitable. "The reality of our situation is not good, we will do our best to continue trading." The company continues to seek out a bank that will work with them. - Labour Bureau From: http://mini.iol.co.za/capetimes/gupta-owned-firm-forced-to-retrench-2029832 -- -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . --- You received this message because you are subscribed to the Google Groups "YCLSA Discussion Forum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
