Workers bear the brunt :347 employees lose jobs

Zim Now Writer

The recent restructuring exercise by CBZ Holdings Limited, Zimbabwe's largest financial services group, has left 347 employees without jobs. The exercise, which was completed on January 31, 2025, was intended to streamline the company's workforce and enhance operational efficiency.

However, for the affected employees, the move has brought uncertainty and hardship. Many of these workers had dedicated years of service to the company, and the sudden loss of their jobs has left them struggling to make ends meet.

"I'm still trying to come to terms with the news," said one affected employee, who wished to remain anonymous. "I've worked for CBZ for over 10 years, and I never thought I'd be let go like this. It's not just about the job; it's about the livelihood of my family."

The restructuring exercise has also raised concerns about the impact on the local economy. With many families affected by the job losses, the ripple effects are likely to be felt throughout the community.

CBZ group chief executive officer, Lawrence Nyazema, acknowledged the difficulties faced by the affected employees and expressed the company's commitment to supporting them during this transition. "We are deeply grateful for the contributions of all affected employees, and we are committed to supporting them during this transition and providing the necessary resources to assist in their next steps," he said.

However, for many of the affected workers, the support may come too little, too late. As they struggle to navigate the uncertain job market, they can't help but feel that they've been left behind in the company's pursuit of efficiency and profit.