Castel Malawi has announced a second phase of retrenchments. This follows a memo that was signed by the director of human resources Naomi Nyirenda
The company claims that this is a result of financial difficulties that they are facing due to the economic situation.
The first phase of the retrenchment came in August 2019 when 200 members of staff were retrenched.
Castel is also blaming it’s predicament on high taxes.
Commentators are speculating that the current trend indicates that the company may be sold or at worst close completely.