Fin24 reports that Eskom says it will look for ways to reduce staff costs other than cutting jobs after it halted a plan to offer workers voluntary retrenchment deals.

Eskom, which employs 41,993 people, rejected applications by 2,493 employees for redundancy deals in February as the power utility decided against losing the workers’ skills, Khulu Phasiwe, a spokesperson for Eskom, said by phone on Friday. The company approved packages for 443 staff, most of whom were over the age of 60, after inviting applications for retrenchments in 2014. The company said: “Eskom still requires the savings that those voluntary separation packages were modeled to generate,” and added that it would seek further “opportunities for saving in the manpower operating-cost space”. Eskom needs to reduce cost as it faces a R225bn shortfall for the five years through 2018 and battles to supply adequate power.

This short report by Andre Janse van Vuuren is at Fin24