Castel Malawi’s Director of Human Resources has outlined in a memo to all heads of departments, that the third phase of retrenchment will be implemented by 25th of March.
According to the notice, all payments in respect of the retrenchment will be made through the payroll of the date above. “Other payments such as EIP and Overtime will be paid as per the company’s respective payout procedures.” says part of the notice, “However, the company will recover any outstanding debts that each retrenched employee has at the time of exit”.
Citing an ever increasing cost of production which resulted into high and unsustainable operating costs, the beverage giant resolved to lay off 300 employees, as revealed by a memo by the firm’s Director of Human Resources last year, which stated that there will be a four-phased retrenchment plan will be implemented for one year, to last till June 2020.