Liquid Intelligent Technologies is laying off some of its workers at the South Africa office. The process that began this week has asked employees to take up a voluntary severance and early retirement package.
Should the targeted employees fail to do so within the next two weeks, the company said it had no option but to implement the process at its own discretion.
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“These measures form part of a broader transformation program aimed at building a future-fit organisation that can deliver sustainable value to all its stakeholders.”
The layoffs were first reported by Broadband, and according to a memo seen by the media outlet, the retrenchment is largely targeting employees who are over 60 years.
Liquid stated in the notice that rapid evolution and integration of digital technologies in the ICT sector were fuelling increased competition and mandating rapid, effective strategic reforms for businesses.
As such, Cassava Technologies which owns Liquid Intelligent has embarked on a mission to consolidate its operating model in all its businesses inorder to be the leading digital solutions provider in its chosen markets and tame the piling financial pressures.
“Over the last year, the company has rolled out the ‘One Cassava’ approach across all markets, including South Africa. In this regard, the company foresees the possibility of duplications and redundancies in certain job functions,” read part of the memo.
According to the company, the offer for voluntary severance or early retirement packages for those over 60 years old will lessen the need for retrenchments if a Section 189 process is implemented.
The options intend to “provide employees with alternative exit pathways where appropriate, and minimise the number of employees likely to be impacted.”
However the company may proceed with a Section 189 consultation process should voluntary measures prove insufficient. Impacted employees will have to sign a confidential settlement agreement after consensus with Liquid.
