Retrenchment exercise costs BTC P67m
Pauline Dikuelo | Tuesday January 17, 2023 06:00
This is revealed in the country’s telecom giant’s financial results for the six months ended 30 September 2022. BTC recently laid off about 196 workers as part of its resource optimisation exercise.
When commenting on the group’s published financial results, BTC Managing Director, Anthony Masunga said the exercise has, however, affected their financial performance during the reporting period.
He said the once off provision of P67 million for the organisational restructuring drove its operating expenditure up. "The primary objectives of the organisational restructuring include the creation of a more for purpose organisation that supports the strategic repositioning of the business into the future,” he said.
Furthermore, Masunga said the exercise ensures that the company has the right human capital in the right jobs that will contribute towards the future viability and long-term financial sustainability of the company.
The corporation said the resource optimization, which is part of its transformation journey, focused on shaping an organisation and talent base that is fit for the future with digital skills aligned to the ever-changing ICT business environment, with a focus on creating new jobs, new capabilities and refreshing skills for the future.
The rationale for the review of the company’s organisational structure was to ensure that the organisational structure supports the company’s strategic direction and the future viability, resilience and long-term financial sustainability as well as the need for efficient operation of the business.
BTC said the company is transformed such that it has the right human capital in the right jobs highlighting that the restructuring exercise was conducted in accordance with the Labour Laws of Botswana in particular, the Employment Act, Cap 47:01 and the Retrenchment Guidelines that were received from the Commissioner of Labour following notification that was sent to the Commissioner on BTC’s intention to restructure as required by the law. Meanwhile, BTC has absorbed on a permanent basis a total of 62 graduates who were on temporary employment as part of the resource optimisation exercise.