{"id":103129,"date":"2025-01-15T12:22:25","date_gmt":"2025-01-15T10:22:25","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited"},"modified":"2025-01-21T16:50:07","modified_gmt":"2025-01-21T14:50:07","slug":"massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited","title":{"rendered":"Massive Retrenchment At Zimbabwe\u2019s Sugar Giant Triangle Limited"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zimbabwe. <\/strong><\/span>Triangle Limited, one of Zimbabwe\u2019s largest sugar producers, has announced plans to retrench an undisclosed number of workers, starting in February 2025.<\/p>\n<p>In a recent statement, the company revealed it would implement a three-phase employee retrenchment program.<\/p>\n<p>Triangle cited escalating operational costs, currency losses, and competition from low-cost, duty-free imported sugar as key factors behind this difficult decision.<\/p>\n<p>The retrenchment process will begin in late February 2025 and conclude in August.<\/p>\n<p>Triangle Managing Director, Tendai R. Masawi, explained that several challenging factors had led to the job cuts. Said Masawi:<\/p>\n<p>The current economic environment in Zimbabwe has presented unprecedented challenges for Triangle Limited over the past three years.<\/p>\n<p>He highlighted inflationary pressures, rising maintenance costs, and the inability to claim value-added tax (VAT) on inputs after sugar was exempted from VAT, as contributing to the company\u2019s operational difficulties. Said Masawi:<\/p>\n<p>Escalating operational costs, particularly in areas such as fertilizer, fuel, maintenance costs, and imported goods\/services, combined with inflationary pressures, currency losses, the inability to claim VAT on inputs after sugar was exempted from VAT, and competition from low-cost duty-free imported sugar, have severely impacted our ability to sustain current levels of operation.<\/p>\n<p>Since 2022, we have seen profit margins decline significantly by 55%, manpower costs increasing by 133% as a proportion of revenue, and debt levels rising to unsustainable levels.<\/p>\n<p>The company has been unable to generate positive cash flows from its operating activities for the past three years and has faced a very constrained working capital position since the implementation of the revised cane supply arrangements, which has necessitated constant trade-offs between what the business needs and what it can afford.<\/p>\n<p>Msawi said despite implementing numerous cost-reduction and revenue-enhancement initiatives, the business has failed to stabilise. Said the managing director:<\/p>\n<p>Despite implementing numerous cost-reduction and revenue-enhancement initiatives, these efforts have proven insufficient to stabilize the business.<\/p>\n<p>This decision has been taken to protect the long-term sustainability of our organization and ensure that Triangle Limited continues to play its vital role in Zimbabwe\u2019s economy and the livelihoods of communities in the Lowveld region.<\/p>\n<p>Triangle has pledged to provide fair severance packages and support programs for affected employees.<\/p>\n<p>The company clarified that the decision is unrelated to the business rescue process of its South African shareholder or its acquisition by the Vision Consortium.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Zimbabwe<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zimbabwe. Triangle Limited, one of Zimbabwe\u2019s largest sugar producers, has announced plans to retrench an undisclosed number of workers, starting in February 2025. In a recent statement, the company revealed it would implement a three-phase employee retrenchment program. Triangle cited escalating operational costs, currency losses, and competition from low-cost, duty-free imported sugar as [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":103128,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[8872,9793,19],"class_list":["post-103129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-retrenchment","tag-triangle-limited","tag-zimbabwe"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Massive Retrenchment At Zimbabwe\u2019s Sugar Giant Triangle Limited - zimbabwe<\/title>\n<meta name=\"description\" content=\"Triangle Limited, one of Zimbabwe\u2019s largest sugar producers, has announced plans to retrench an undisclosed number of wo ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Massive Retrenchment At Zimbabwe\u2019s Sugar Giant Triangle Limited\" \/>\n<meta property=\"og:description\" content=\"Triangle Limited, one of Zimbabwe\u2019s largest sugar producers, has announced plans to retrench an undisclosed number of wo ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-15T10:22:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-21T14:50:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2025\/01\/sm_1736931930.989546.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Massive Retrenchment At Zimbabwe\u2019s Sugar Giant Triangle Limited\",\"datePublished\":\"2025-01-15T10:22:25+00:00\",\"dateModified\":\"2025-01-21T14:50:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited\"},\"wordCount\":402,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2025\/01\/sm_1736931930.989546.jpg\",\"keywords\":[\"Retrenchment\",\"Triangle Limited\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/massive-retrenchment-at-zimbabwes-sugar-giant-triangle-limited\",\"name\":\"Massive Retrenchment At Zimbabwe\u2019s Sugar Giant Triangle Limited - 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