Friday, June 21, 2024

Letshego non-committal on possibility of job cuts

Financier, Letshego Holdings was this past week non-committal when asked if job cuts are imminent in the wake of the restructuring exercise that the pan African group is currently undertaking.

While he could not be drawn into the number of jobs on the line, the Chief Executive, Aupa Monyatsi confirmed that over the past two years, 2021 – 2022, the company successfully concluded phase two of the plan that seeks to invest into strategic tech and automation which will support a transformation strategy.

“As always this is a process, but our priority remains the wellbeing and welfare of our people.  Letshego is committed to reskill, upskill and redeploy employees as a priority should there be any roles that are no longer effective following digitisation, automation and optimisation of operations and processes,” said Monyatsi.

Monyatsi said the aim is to empower more employees with new opportunities for growth and development.  Letshego says employees who may be affected by the changes will be supported and empowered to ensure they maximise their future career potential as valued alumni of the company.

Monyatsi also confirmed that Letshego is commencing the next evaluation of its organisational structures to ensure the people and skills are in the right place to support and maximise ongoing tech and digital developments across the business.

He added that this process is progressing and yet to be concluded.  Monyatsi said once complete they will have adjusted their organisational structure to integrate the country operations effectively with their centralised or group areas of supportive where they offer specialist expertise.

He further stated that once the process of organisational design, redeployment and reallocation of roles is completed there may be redundancies, “but redundancies remain Letshego’s last resort”. 

The process includes a thorough process of matching updated job descriptions with existing skills sets according to the BSE quoted financier with operations across southern Africa.

Letshego unveiled its current transformation strategy in 2021, a clearly articulated future-fit plan to transform the company from manual interfaces and traditional operations, into a digital-first, future-fit organisation.

Monyatsi added that the motivation for the transformation was spurred by the need for Letshego to ‘leap frog’ rapidly evolving tech and digital evolutions, and identify and enhance systems, channels, people process and products to achieve adaptability, flexibility and sustainability in its vision to create a leading and world-class pan-African digital financial retail organisation. “Letshego’s transformation strategy touches all areas and functions across our business, from systems infrastructure, to customer access channels, digital investment strategies, partnership platforms, as well as employee development,” he said.

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