Business / Local
Radar employees transfer sparks outrage
13 Aug 2015 at 08:22hrs | Views
Radar Metal Industries has transferred the majority of its permanent staff to a private firm which acquired some of its movable assets, sparking outrage among workers who feel they have been cheated.
The assets were sold for $1 million in an "empowerment offer" for takeover of part of the troubled Bulawayo-based engineering company.
The sale of certain assets of Radar Metal Industries or National Fencing to Fortsign has sparked an outcry from workers who smell a rat, as they feel the sale is simply meant to get rid of permanent employees.
According to the agreement of sale, Sedan Chair Trading sold certain moveable asset of Radar Metal Industries to Fortsign Investments.
The effective date of the transaction was August 1, 2015.
Source - the herald