Major jobs shakeup at Triangle Limited

Date:

Harare -As the economy continues to tank, one of the biggest employers in the country, Triangle Limited, is set for a massive job cuts.

Triangle Limited managing director Tendai Masawi.

The leading sugar producer in Zimbabwe, has announced a phased retrenchment process citing severe economic challenges.

“This decision has been taken to protect the long-term sustainability of our organisation and ensure that Triangle Limited continues to play its vital role in Zimbabwe’s economy and the livelihoods of communities in the Lowveld region,” said the company in a statement signed by Tendai Masawi, the managing director.

The company, which has been struggling with escalating operational costs, inflationary pressures, and currency losses, says the decision is necessary to safeguard its future.

“The current economic challenges have presented unprecedented difficulties for Triangle Limited over the past three years,” the statement reads.

“Despite our efforts to reduce costs and enhance revenue, we have been unable to generate positive cash flows from our operating activities for the past three years.”

The retrenchment process will be implemented in three phases, with the first phase expected to be completed by the end of February 2025. The company says the decision will affect an unspecified number of employees, but assures that fair severance packages and support programs will be provided to those affected.

“We are committed to ensuring a smooth and fair transition, and have engaged with union representatives, employee committees, and other stakeholders to ensure transparency and fairness,” said the company.

The retrenchment announcement has raised concerns among employees, stakeholders, and the broader community, who are worried about the impact on livelihoods and the local economy.

“We understand the significant personal and professional impact this decision will have on our employees and their families, and we deeply regret the need to take this step,” said the company.

Triangle Limited is a major employer in the Lowveld region, and its operations have a significant impact on the local economy.

As the company navigates this challenging period, it remains to be seen how the retrenchment process will affect its operations and the broader community.

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