Metrobus faces liquidation
Joburg's Metrobus is considering liquidation, and at least 1000 jobs are on the line, if the bus drivers' strike continues, the company said on Tuesday, 19 May 2009.
Metrobus board chairman Vincent Mntambo said the company was in a financial crisis and was losing more than R6-million every three months.
“We are already reaching that point for the board to seriously consider liquidation … we are not far from making that decision,” Mntambo said.
He said the prolonged strike was likely to threaten the company's plans for next month's Confederations Cup.
Mntambo criticised the striking drivers for being greedy because they were the “most- paid bus drivers in the industry.”
Source: The Times
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