Wednesday, April 24, 2024

Banks retrenchment underway

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THE RETRENCHMENT EXERCISE at Banks Holding Limited (BHL) has started.

Last month it was announced that 48 employees would be sent home under a restructuring programme initiated by the new owners of the beer company, Anheuser-Busch InBev (AB InBev).

The SUNDAY SUN understands that a number of employees received notification letters last week.

When contacted BHL chief executive officer, Richard Cozier, confirmed that the layoffs “were just now happening”.

“There’s a number that was divulged in June and that number is going over time. There are negotiations with the union and some would go as we finalise the discussions,” he said.

In relation to reports that the company was closing its wholesale centre, Cozier said it was being leased. (MB)

Please read the full story in today’s Sunday Sun, or in the eNATION edition.

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