The National Railways of Zimbabwe (NRZ) is set to retrench nearly 50% of its workforce in a move board chairman Larry Mavhima said was aimed at allowing the parastatal to maintain a manageable workforce.
Said Mavhima:
We are looking at our current operating efficiencies, look at the volume of traffic that we are carrying and look at the number of employees in relation to the revenue that we are generating and we are saying we have too many employees for the traffic that we are moving so as the NRZ we want to stop the bleeding. We have to bite the bullet, take the bitter pill to ensure that the financial bleeding caused by a huge wage bill against the revenue inflows is stopped.
NRZ has since turned to the Reserve Bank of Zimbabwe (RBZ) and Finance ministry to get funding for the retrenchment process which could cost close to $100 million.
More: NewsDay