This archive report was first published on 23 August 2020.
Published on August 23, 2020, South African mobile operator Cell C is set to close 128 stores across the country, affecting 546 jobs, as part of its restructuring efforts.
The company, which is 45% owned by Blue Label Telecoms, has a workforce of 2,500 and 240 stores. Cell C cited the changing retail environment and the impact of COVID-19 as reasons for the move.
“The retail environment has changed and this has been fast-tracked by the impact of COVID-19 and the evolving purchasing habits of consumers,” Cell C said in a statement.
Cell C has already announced plans to lay off 960 workers in June, and the latest job cuts will be in addition to those plans. The company has made a voluntary severance package offer to affected employees.
Cell C is also making progress on finalizing its recapitalization plan, which aims to improve its liquidity and debt profile.
