Business Reporter
LEADING financial services concern, ZB Financial Holdings has laid bare the intention to lay off a whopping 76 workers in a fresh retrenchment exercise.
The latest job cuts are one of the latest exercises currently gripping the banking sector workforce which is reeling under severe pressure from advanced technologies which are continuously diminishing the need for human workforce.
A highly placed source at the ZBFH confirmed the latest developments this week but could not avail finer details on the job cuts.
“ As per update on the urgent meeting we had, please note that we were served with a notice to retrench staff members and the reasons thereof. A total of 57 non managers and 20 managers have been affected. The affected staff will receive their letters tomorrow (Friday 6/6/25) through their line managers,” read the communique sent to our publication.
The ZBFH spokesperson ,Emilia Mabika had not responded to the enquiries made by The Humanitarian Post at the time of publishing.
Early this year, CBZ Holdings (CBZHL) s laid off 347 employees as part of a restructuring effort initiated in October 2024, impacting 347 of their 1,448-strong workforce. The restructuring was driven by the need to adapt to Zimbabwe’s volatile economic landscape and enhance operational efficiency.
NMBZ also cuts off 51 jobs for reasons largely hinged on technological advancements.
Sadly, despite the fact that most of these banks are well oiled and are opting for job cuts way outside of operational challenges , most have failed to reward their ex-employees in line with their stated demands, instead offering to pay minimum retrenchment packages.
