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Published on : Wednesday, July 12, 2017
State owned airline Air Zimbabwe is on a firing spree to avoid bankruptcy and get out of a $330 million debt. It will sack more than a third of its employees to bring itself closer to securing outside funding.
Transport Minister Joram Gumbo asserted the debt figures.
Earlier, this year in May, the airline was banned from operating in the European Union due to safety concerns but it currently flies there. An unnamed source mentioned that there will be around 200 job cuts or more than a third of its workforce will be removed. However, the information is still not public.
The airlines reached out to the affected employees and wrote in a letter that due to financial crunch the company is forced to cut down employees and an immediate effect has been made. It is important to maintain the operational costs and save the national airline’s viability.
Founded as the Central African Airways in 1946, the fortunes of the airlines has gone down when the company’s economy went half in size from 2000, unemployment and shortage of cash cut consumer demand for products from plane tickets to beer over the years.
The affected employees will get a 3 months’ pay and 2 weeks pay for every year worked