News / National
Zupco rehiring workers retrenched in 2000
10 Jan 2012 at 05:30hrs | Views
Ailing passenger company Zupco, which is on the market hunting for a new chief executive, has embarked on a rehiring drive of workers retrenched in 2000, NewsDay reported.
In 2010, Zupco laid off close to 400 workers and more than $2 million was required to pay retrenched employees. The company is saddled with an estimated $6,4 million debt.
Zupco has over the years seen its fleet shrink and lost significant market share to efficient domestic and regional competitors.
In August last year, board members of the perennially loss-making parastatal admitted to a Parliamentary Portfolio Committee on Local Government, Rural and Urban Development that the transport firm purchased sub-standard buses from China.
In 2010, Zupco laid off close to 400 workers and more than $2 million was required to pay retrenched employees. The company is saddled with an estimated $6,4 million debt.
Zupco has over the years seen its fleet shrink and lost significant market share to efficient domestic and regional competitors.
In August last year, board members of the perennially loss-making parastatal admitted to a Parliamentary Portfolio Committee on Local Government, Rural and Urban Development that the transport firm purchased sub-standard buses from China.
Source - NewsDay
