Triangle Limited has announced a phased retrenchment of its workforce, citing economic challenges and a significant decline in operational performance. The company’s decision, communicated through an internal memorandum, highlights the difficult circumstances that have led to this decision, including a 14% decrease in agricultural and milling output.
Triangle Zimbabwe, a key player in the agricultural sector, has faced mounting financial pressures exacerbated by broader economic challenges in the country. The company expressed gratitude to its employees for their hard work and dedication during these trying times, acknowledging their contributions to sustaining operations amid difficulties.
The retrenchment will occur in three phases.
This planned approach aims to minimize disruption and ensure that the transition is handled with sensitivity and care for affected employees and their families.
Triangle Limited has committed to providing support for those impacted by the retrenchment. The company will offer fair severance packages and work closely with employee representatives and other stakeholders to ensure a transparent process. They emphasize their commitment to treating all employees with dignity and respect as they navigate this challenging transition.
The announcement of retrenchments at Triangle Limited underscores the ongoing economic difficulties faced by businesses in Zimbabwe. As the company moves forward, it remains focused on stabilizing its operations while providing necessary support to its workforce.
