Wednesday, August 10News That Matters
Shadow

AHL Retrenches Hundreds Of Employees

Share the story

Management of Auction Holdings Limited (AHL)  has issued letters of retrenchment to hundreds of employees.

Reports indicate that about 500 employees have lost jobs, including 70 employees stationed at Limbe Auction Floors. AHL also has auction floors in Mzuzu and in Lilongwe.

Further reports also show that all employees under Malawi Leaf Company, one of AHL’s subsidiaries, have lost their jobs.

All retrenched employees have been told to stop working immediately and their last day at work is on Friday, 18 March 2022.

The government owned company wanted to implement the restructuring process last year but there were delays due to a lack of funds to pay the retrenched workers.

AHL Group has since promised to settle retrenchment packages for the 500 employees by the end of this March.

The company is expected to spend about K7 billion to settle the retrenchment packages.

AHL board chairperson Rhino Chiphiko told  the local media yesterday that shareholders sourced the funds prior to completion of the exercise by 31 March.

The retrenchments come as the Tonse Alliance Government led by President Lazarus Chakwera is struggling to fulfill its promise to create jobs.

Related News
Parliament Accussed For Overstepping Mandate

Some Civil Society groups are accusing Parliament of overstepping its mandate in a Motion where MPs want Judge Ken Manda Read more

ESCOM Lost K112 Billion

The Electricity Supply Corporation of Malawi (ESCOM) says since its unbundling in 2018, it has been operating at a loss, Read more

Parliament Pass k20.5 Authorization Bill

In the picture; one of the bailey bridges on the said road Parliament has passed a loan authorization bill allowing Read more

Chakwera Opens AFBA Conference

Legal minds and other professionals from Africa and beyond have gathered at the Bingu International Convention Centre (BICC) where for Read more

Gangata Tells Parliament To Shut Up

Alfred Gangata, the Managing Director of Masters Boreholes Drilling Company says he is surprised with the way the general public Read more

Poor Performance Derails developmental projects

Bad attitude in public service and poor performance among civil servants is derailing developmental projects in the country, Minister of Read more

PARLIAMENT CONFIRMS POLICE IG

Legislators in the August House have this morning confirmed Merlyne Yolamu as Inspector General of Malawi Police Service. Until her Read more

SPC CALLS FOR ADHERENCE TO EXPENDITURE CONTROL MEASURES

Secretary to the President and Cabinet Colleen Zamba has called on controlling officers in the Civil service to adhere to Read more

COURT BARS NATIONAL BUS COMPANY FROM RUNNING BUS TERMINALS

National Bus Company Limited has been restrained from operating all the bus terminals and workshops across the country that once Read more


Share the story

Leave a Reply

Your email address will not be published.