Eldo Coaches employees have not been paid their full salaries for February due to the long distance bus company experiencing costly breakdowns amongst other cashflow problems.
In a letter to employees, which SA Trucker has seen, HR Manager Asma Moolla informed employees that the company was experiencing extreme cash flow problems due to a variety of factors.
“There are too many breakdowns which have led to many vehicles being off the road as well as the company having to pay external services providers such NFA and to refund passengers and/or compensate them for delays,”
“As such we are unable to pay full salaries by the end of the month. We are paying 50% of the payslip amount by the close of business today (February 28 2022). We will pay the balance of the payslip amounts by Monday March 7 2022,” read part of the letter by Moolla.
Moolla also cited a marked reduction in sales as well as income for excess luggage,
Negligence leading to damage to vehicles, including to the Greyhound fleet,
Eldo Coaches vehicles and payments to
owners of third party vehicles
All of these factors meant that the company incurred excessive costs to repair these vehicles which severely impacted cash flow, says Moolla.
Read also: Eldo Coaches Bus With Damaged Tyres, No Front Brakes Impounded in Eastern Cape
Broken down Eldo Coaches buses on the country’s highways have recently featured numerous times on traffic updates on social media.
At the time of publishing, the company was yet to respond to emails from SA Trucker.
