JSE To Cut 60 Jobs And Save R170-Million

Staff Writer | The Republic Mail

By Mbali Sibiya

The Johannesburg Stock Exchange (JSE) is undergoing a programme that includes around 60 job cuts.

According to the Stock exchange, this will produce savings of about one hundred and seventy million rand.

Chief executive Nicky Newton-King attributes South Africa’s low economic growth and credit downgrades for the decision.

For the first time in eight years, South Africa is currently in a technical recession.

The JSE, which employs around 430 staff, will also cut its technology operating expenditure.