News / National
TM Pick n Pay Zimbabwe boss in racism storm, pay scandal
31 Jul 2024 at 12:59hrs | Views
TM Pick n Pay Zimbabwe's Managing Director, Malcolm Mycroft, faces allegations of racism, externalisation of funds, and unfair salary practices, negatively affecting local employees. Reports indicate that Mycroft and fellow South African executive Walter Stephens receive significantly higher salaries than local staff.
Mycroft allegedly approved a US$45,000 monthly salary and a US$150,000 annual bonus for himself, while Stephens earns US$20,000 monthly. In stark contrast, the lowest-paid worker receives the equivalent of US$230 in local currency.
The controversy at TM Pick n Pay Zimbabwe, a subsidiary of Meikles Limited, has sparked concerns over potential unfair labour practices and unauthorised foreign currency transactions. Employees have called for an investigation by the National Economic Conduct Inspectorate, accusing Mycroft of prioritising South African executives over local workers.
An aggrieved employee criticized Mycroft's leadership, stating: "It's utterly unacceptable and racist that Mycroft is prioritising the interests of himself and his fellow South African executives over those of local employees, who are on meagre salaries."
The company has faced a decline in performance, with a 4.8% drop in units sold in the year ending February 2024. Meikles Limited Chairman John Moxon attributed this to uncompetitive US dollar prices and depressed consumer demand. In South Africa, Pick n Pay warned of an impending full-year loss due to a significant impairment charge on its core supermarket stores.
Meikles Limited's company secretary, Thabani Mpofu, declined to comment on the specific allegations but assured stakeholders of the company's commitment to transparency, accountability, and fair labour practices.
TM Pick n Pay Zimbabwe operates 73 outlets in the country and is currently grappling with challenges in both Zimbabwe and South Africa.
Additionally, similar allegations of racism and labour law violations have been raised against Jonas Amstad, General Manager of The Meikles Hotel (now Hyatt Regency Harare), prompting hotel workers to seek intervention from the ministry of labour.
Mycroft allegedly approved a US$45,000 monthly salary and a US$150,000 annual bonus for himself, while Stephens earns US$20,000 monthly. In stark contrast, the lowest-paid worker receives the equivalent of US$230 in local currency.
The controversy at TM Pick n Pay Zimbabwe, a subsidiary of Meikles Limited, has sparked concerns over potential unfair labour practices and unauthorised foreign currency transactions. Employees have called for an investigation by the National Economic Conduct Inspectorate, accusing Mycroft of prioritising South African executives over local workers.
An aggrieved employee criticized Mycroft's leadership, stating: "It's utterly unacceptable and racist that Mycroft is prioritising the interests of himself and his fellow South African executives over those of local employees, who are on meagre salaries."
The company has faced a decline in performance, with a 4.8% drop in units sold in the year ending February 2024. Meikles Limited Chairman John Moxon attributed this to uncompetitive US dollar prices and depressed consumer demand. In South Africa, Pick n Pay warned of an impending full-year loss due to a significant impairment charge on its core supermarket stores.
TM Pick n Pay Zimbabwe operates 73 outlets in the country and is currently grappling with challenges in both Zimbabwe and South Africa.
Additionally, similar allegations of racism and labour law violations have been raised against Jonas Amstad, General Manager of The Meikles Hotel (now Hyatt Regency Harare), prompting hotel workers to seek intervention from the ministry of labour.
Source - zimlive
