Pray The News
Monday 8 September​
Hundreds more Aspen jobs in the firing line.
Abstract from The Herald
Aspen Pharmacare is starting a fresh wave of retrenchments with more than 900 jobs now at risk. The latest retrenchments follow the loss of 134 jobs caused by the shutdown of the multinational pharmaceutical company’s eyedrops production facility in Gqeberha. In the past 12 months, Aspen has retrenched a total of 208 workers. The company has 451 employees in East London and 2064 in Gqeberha. Employees, who did not want to be named, said everyone was tense. “No-one knows if they will have a job next week or next month,” one worker said. They have retrenched more than 200 employees in the last 12 months, and now they want to let go of another 923. It is a bloodbath of job losses.” On Thursday, Aspen SA Operations general manager Branson Bosman sent a Section 189A notice to unions. Bosman said the company was considering operational changes that could result in redundancies in some areas of business. This was due to the closure of the eyedrop lines, loss of manufacturing contracts and escalating costs. According to notice, 923 employees will be affected. Unions are contesting the outcome of the Aspen SVP1 consultation process, which resulted in 134 jobs cut tied to the closure of its eyedrops production facility, after findings by the US Food and Drug Administration. A CCM conciliation meeting is set for 11 September. Aspen spokesperson Shauneen Beukes said the company would not comment on employee or employment related matters”, she said. In the notice, Bosman said no date had been set for the layoffs, which would depend on consultation outcomes and business continuity needs. He said the reasons the company had to restructure were: Changes in the output requirements of the site, coupled with the need to address resultant operational inefficiencies; Ensuring the site continues to operate in full compliance with good manufacturing practise (GMP) and pharmaceutical industry benchmarks to ensure competitiveness and loss or-non-renewal of certain third-party manufacturing contracts that formed a material component of volume and recovery of fixed costs.
More Background
This wave of job cuts reflects broader challenges for Aspen, including a reported full-year loss of R1.1 billion ($63 million) for the financial year ending June 30, 2025, driven by a material contractual dispute over mRNA products and asset impairments of R4.1 billion. The company is restructuring its manufacturing operations in South Africa and France to align with current contracts and reduce costs, while also facing pressures from the appreciation of the rand and loss of key contracts. Unions, including Numsa and Ceppwawu, have criticized Aspen for inadequate consultation and are threatening legal action, arguing that alternatives like reducing overtime or accounting for voluntary exits were ignored. Employees express significant anxiety, describing the situation as a “bloodbath of job losses,” with no clear timeline for the layoffs pending consultation outcomes. Aspen’s strategic focus is shifting toward high-demand areas like insulin production for Novo Nordisk and GLP-1 drugs for diabetes and obesity, with plans to commercialize these by 2026 to offset losses. However, the immediate impact on workers in Gqeberha (2,064 employees) and East London (451 employees) underscores the human cost of these restructuring efforts, compounded by broader economic challenges in South Africa’s manufacturing sector, as seen in similar retrenchment plans by companies like Ford. The CCMA meeting on September 11 will be critical in determining whether unions can negotiate alternatives to mitigate further job losses.
Who owns Aspen?
Aspen Pharmacare Holdings Limited, headquartered in Durban, South Africa, is a publicly listed company on the Johannesburg Stock Exchange (JSE) under the ticker APN. As a public company, it is owned by its shareholders, with no single entity holding a controlling stake. Major shareholders include institutional investors such as the Government Employees Pension Fund, Public Investment Company SOC Ltd., Allan Gray, GIC Asset Management Pte Ltd., Vanguard Total International Stock Index, Foord Balanced Fund, Vanguard Emerging Market Stock Index Fund, SAFE Investment Company Ltd., and Old Mutual Life Assurance Co Ltd. Individual shareholders include key executives like Stephen Saad (Group CEO) and Michael Guy Attridge (Deputy Group CEO), though their exact shareholdings are not detailed in the provided information. The company has a broad shareholder base, with 444 million shares outstanding and a market capitalization of $2.83 billion as of July 17, 2025.
Prayer Pointers
1. Prayer for Wisdom and Guidance for Aspen’s Leadership
Scripture: James 1:5 – “If any of you lacks wisdom, let him ask of God, who gives to all liberally and without reproach, and it will be given to him.”
Prayer Pointer: Heavenly Father, we lift up the leadership of Aspen Pharmacare, including CEO Stephen Saad and General Manager Branson Bosman. Grant them divine wisdom to navigate the company’s challenges, including financial losses, operational restructuring, and contract issues. May they make decisions that align with Your will, balancing business sustainability with compassion for their employees. Guide them to find innovative solutions that preserve jobs and restore stability. ​
2. Prayer for Peace and Strength for Employees Facing Job Insecurity
Scripture: Philippians 4:6-7 – “Be anxious for nothing, but in everything by prayer and supplication, with thanksgiving, let your requests be made known to God; and the peace of God, which surpasses all understanding, will guard your hearts and minds through Christ Jesus.”
Prayer Pointer: Lord, we pray for the 923 employees in Gqeberha and East London facing potential retrenchment, as well as those already affected. Comfort their hearts amidst anxiety and uncertainty. Fill them with Your peace that surpasses understanding, and strengthen them to trust in Your provision. Provide them with hope and opportunities to sustain their families, whether through retained jobs or new paths You open.
3. Prayer for Provision and New Opportunities for Affected Workers
Scripture: Matthew 6:31-33 – “Therefore do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’… But seek first the kingdom of God and His righteousness, and all these things shall be added to you.”
Prayer Pointer: Gracious God, we ask for Your provision for every worker at risk of losing their job at Aspen. You know their needs—financial, emotional, and spiritual. Open doors for new employment opportunities, provide resources to meet their daily needs, and guide them to seek Your kingdom first, trusting that You will supply all they require according to Your perfect plan.
4. Prayer for Fair and Compassionate Resolution in Consultations
Scripture: Proverbs 16:7 – “When a man’s ways please the Lord, He makes even his enemies to be at peace with him.”
Prayer Pointer: Father, we bring before You the upcoming CCMA conciliation meeting on September 11, 2025, and the ongoing consultations with unions like Numsa and Ceppwawu. Soften the hearts of all parties involved, fostering a spirit of fairness, understanding, and collaboration. May the outcomes reflect Your justice and compassion, minimizing job losses and honoring the dignity of every worker.
5. Prayer for Aspen’s Recovery and Future Stability
Scripture: Jeremiah 29:11 – “For I know the thoughts that I think toward you, says the Lord, thoughts of peace and not of evil, to give you a future and a hope.”
Prayer Pointer: Lord, we pray for Aspen Pharmacare’s recovery from its financial and operational challenges, including the R1.1 billion loss and loss of manufacturing contracts. Bless their efforts to pivot toward high-demand areas, such as insulin and GLP-1 drug production. Restore the company’s competitiveness and stability, enabling it to continue providing jobs and serving its communities. May Your plans for a hopeful future guide Aspen’s path forward.
Prayer:
Heavenly Father, we lift Aspen Pharmacare and its employees before You. Grant wisdom to its leaders, as James 1:5 promises, to navigate financial and operational challenges with compassion. Fill the 923 workers facing job loss with Your peace from Philippians 4:6-7, and provide new opportunities as You assure in Matthew 6:33. Guide the CCMA consultations on September 11, 2025, toward fair resolutions, reflecting Proverbs 16:7. Restore Aspen’s stability, aligning with Your plans for a hopeful future in Jeremiah 29:11, so it may thrive and support its workforce. In Jesus’ name, Amen.
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Update from the Herald - 20 October
The looming job cuts at Aspen’s Gqeberha and East London plants are believed to have been reduced to about 650 positions, as the company and unions race to finalise a deal before the November deadline.
The latest retrenchments follow the loss of 134 jobs caused by the shutdown of the pharmaceutical company’s eyedrops production facility in Gqeberha. After that round, the company announced that a further 900 jobs were at risk. However, a leaked presentation prepared by Aspen for a meeting with the unions on October 14, seen by The Herald, revealed that the company now proposed to cut 656 jobs.During the Section 189A consultations held last week, Aspen reiterated that the closure of its eyedrops production facility, the loss of key contracts, and rising costs had severely strained its finances, with losses projected to run into the billions of rand in 2025.However, the unions continue to reject the proposals for additional job cuts beyond the 134 positions lost in the first round of layoffs earlier this year, arguing that the company had been accepting voluntary separation packages outside the CCMA process. On September 4, Aspen SA Operations general manager Branson Bosman issued a Section 189A notice to unions, indicating the company’s intention to retrench 923 employees.By law, consultations must be completed within 60 days.In the past 12 months, Aspen has retrenched a total of 208 workers. The company has 2,064 employees in Gqeberha and 451 in East London.
Compiled by GAP Ministries
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