Denel to cut employees’ April salaries
State-owned aerospace and military technology conglomerate Denel will not be able to pay full salaries to its aeronautics division at the end of this month.
Trade union’s Solidarity's Helgard Cronjé says the aeronautics division will only pay between 40 to 100% of salaries.
"Some of the divisions pay different salaries because they have been given the responsibility of their own finances.
"Denel Aeronautics, for example, this month will be paying between 40-100% depending on the earnings of the individual."
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The state-owned enterprise has been plunged into a liquidity crisis due to corruption and mismanagement.
Denel's Land Systems division will bear the brunt of the corruption and mismanagement as they won't be getting their salaries at the end of the month.
"All divisions will pay different salaries this month Denel Land systems will not receive any pay.
"They are currently there's no cash available, they are hoping that they will get cash in before pay-day."
