Posts Tagged Wal-Mart

SA Gov managing to lose jobs


Congress of South African Trade Unions

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The Congress of South African Trade Unions fully backs SACCAWU‘s appeal – to be heard on 20-21 October 2011 – against the decision of the Competition Tribunal to approve the Massmart-Walmart merger.

The federation also fully supports the three government ministers who are calling for a legal review of the Tribunal decision, based on their fact that the Tribunal unreasonably denied government departments access to information in the possession of the merging parties and took a far too narrow view of the merger.

The Competition Act requires the Tribunal to consider the competition and public interest effects of a proposed merger – whether it promotes employment and advances the social and economic welfare of South Africans – and not just the narrow interests of the firms who intend to merge.

In particular, COSATU insists that the application needs to be judged against the background of the job-loss bloodbath which has hit the country in recent years. Unemploymenttoday stands at 36, 6%, greater than any other middle-income country or any comparable economy.

The labour market has been depressed for so long that many unemployed people are getting discouraged and leave the labour market for good – too discouraged to look for a job.

via Politicsweb – Walmart intent on pillaging Africa – COSATU

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