Retrenchments double over past year.
Retrenchments have doubled over the past year, rising 36% in January, y/y, against 14% in 2006-7, the University of Cape Town School of Economics Prof Haroon Bhorat told Business Day.
German reinsurance group Hannover Re, one of the top five worldwide, said Thursday that its second quarter net profit had more than doubled owing to exceptional items a year earlier and acquisitions.