Reduction in lay-offs sparks hope of recovery

Alexander Forbes says it is optimistic in general about SA's economic recovery prospects, saying the government has started taking the correct steps regarding state-owned enterprises

20 June 2021 - 00:09 By Nick Wilson

Alexander Forbes, SA's biggest pension fund administrator with R400bn in assets under management, believes there are finally some green shoots showing in the economy, saying the rate of retrenchments across its client base has slowed significantly since the highs of last year.

Speaking this week after the release of results for the year ended March 31, CEO Dawie de Villiers said late last year there was a peak of about 4,000 retrenchments a month among Alexander Forbes' client base, but the rate had now slowed to about 1,000 or fewer, which is closer to the "more normal" 600 to 900 a month before the pandemic began...

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