Economists are worried about what will happen in South Africa after lockdowns; alcohol bans, dramatic changes in tourism and restriction of movement. Many businesses have been closed already, many in the hospitality industry, which means many workers are left without pay. It is estimated that one million jobs will be lost and that our GDP will shrink by around 7%.
The 2021 MNC Trends report reviews this year in light of the challenges posed globally and in South Africa, with specific focus on sectors that have been the most effected by the pandemic. This sector specific information is designed to assist unions in shaping bargaining demands given the financial situation and also the executive remuneration of these companies. The information also serves as a precursor of companies and sectors that may continue to suffer in the coming year, and with this in mind hopes to inform trade unions’ responses to possible retrenchments and refusals to accede to bargaining demands.
2021 MNC Factsheets
This research is made possible through the support of Friedrich-Ebert-Stiftung Trade Union Competence Centre.