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*Zimbabwe Expects 50k Job Losses This Year* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?fk Zimbabwe is expecting a minimum of about 50 000 job losses this year as the economic recession continues unabated. Even before the coronavirus pandemic outbreak, the Zimbabwean economy was already on a downward trend mainly because of drought, electricity and fuel crisis. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- Speaking to Business Times, Economist Tony Hawkins said the coronavirus pandemic has resulted in the retrenchment of a huge number of temporary workers while some took huge pay cuts despite a difficult operating environment. Hawkins said: > We expect over 50,000 employees to lose their jobs by year-end due to the impact of Covid-19 pandemic to business compounded by perennial challenges such as forex challenges, power outages, droughts and rampant inflation. > From the recent survey carried out, 23% of the registered companies have trimmed permanent employees while 50% of the companies have laid-off temporary employees to relieve pressure on the balance sheets which struggled to meet operational costs and wage bills The government announced a national lockdown in March this year as a measure to curb the spread and transmission of the coronavirus. As the number of coronavirus cases is going down, Zimbabwe is slowly loosening the lockdown restrictions in a bid to save the drowning economy. The Zimbabwean industry is collapsed, for decades, therefore, the economy relies on imports. Therefore, the COVID-19 lockdowns which have been in effect globally have had a huge adverse impact of the Zimbabwean economy. More: Business Times _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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