Absa had every right to wait 15 months before it closed down the accounts of Gupta-owned companies‚ .
The three-week-old strike in the tyre and rubber manufacturing sector might end today, the National Union of Metalworkers of South Africa (Numsa) said.
Union spokesman Mziwakhe Hlangani said yesterday that a final settlement was expected with Goodyear, a company based in Port Elizabeth.
The agreement hinged on the company releasing its final plan on how it intended phasing out 150 labour brokers.
"The company has agreed to absorb about 100 contract workers into its permanent staff, out of a total of 250 employees hired through labour brokerages."
According to Numsa, the employers' New Tyre Industry Association was offering wage increases ranging from 7,5percent to 8,5percent.
"Talks continued amidst divisions within the industry, with some employers expressing a willingness to up their offer, while others claimed that they contributed highly competitive and unequalled provident fund contributions," it said.
The strike started last month when almost 6000 Numsa members at major tyre manufacturing plants, including Goodyear, Continental, Firestone, Dunlop and Bridgestone, downed tools demanding a 10percent wage increase. - Sapa