CEMENT maker PPC Zimbabwe is reportedly on the verge of laying off more than 20 middle-level managers in the southern region as part of its turnaround strategy.
However, the exercise has reportedly angered the targeted employees as they allege that their foreign counterparts holding similar positions are being excluded from retrenchment.
“There are about 400 employees and with its turnaround strategy the company is only targeting local management while protecting foreigners holding similar posts,” said one middle-level manager.
Another manager said: “How can a company report an increase in revenue in June and be able to declare dividends but all of a sudden is retrenching the same workers who played a pivotal role in producing these good results.”
The company once retrenched almost all Zimbabwe non-executive managers and replaced them with foreigners.
PPC Zimbabwe Limited appointed Albert Sigei its new managing director from January 1, 2024 bringing in a wealth of experience and an excellent track record.
However, Sigei’s employment contract was subject to obtaining a work permit which was reportedly contested in court.
Sigei later won the case.
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Company secretary Tawanda Chiurayi, who is also the head of legal services, has not responded to questions on the matter for the past three weeks.
“I received the inquiry, we are working on your response,” Chiurayi said.
On Monday and yesterday, he was not responding to messages and calls.
In June, the company reported a 20,6% year-on-year increase in revenue, amounting to approximately US$550 million for the financial year ended March 31, compared to US$457 the previous year.
The company attributed the growth to the performance of its Zimbabwe subsidiary.
