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Pick n Pay’s return to profitability depends on cutting employees’ pay, among other factors
['Tshehla Cornelius Koteli', 'Business Journalist']
The Citizen
Pick n Pay Group says its turnaround strategy partly depends on successfully completing the restructuring of staff salary packages and working conditions.
The retailer has, for a number of years, implemented different turnaround strategies in a bid to return Pick n Pay to its former glory.
Pick n Pay’s new turnaround strategyWhile Pick n Pay made some money from listing Boxer, the move did not completely take the former out of the woods.
Online turnover growth for the period was 37.5%, driven by continued growth of Pick n Pay asap!
and Pick n Pay groceries on the Mr D app.