Triangle Limited to Begin Employee Retrenchment

Written by on January 15, 2025

Triangle Limited has announced plans to retrench employees as it struggles with economic challenges.

According to Managing Director Tendai R. Masiwa, the company has faced significant difficulties over the past three years. Operational costs and debts have surged, manpower costs increased by 133%, and profit margins dropped by 55%, making it unsustainable to maintain current operations.

The retrenchment process will adhere to Zimbabwe’s labor laws and will occur in three phases: phase one starts at the end of February 2025, phase two at the end of May, and phase three at the end of August. Affected employees will receive severance packages and emotional and psychological support.

Masiwa expressed gratitude to employees and stakeholders for their contributions and assured that efforts are underway to stabilize operations and prevent closure.

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