State produce trader Agricultural Development and Marketing Corporation ( Admarc) has rebuffed agriculture commodity trader, AHL to retrench 40 percent of its staff as one way of restructuring.
Lately, AHL has been sailing through turbelent financial waters.
This led to the company failing to pay salaries of its workers for four months triggering waves of protests.
However, AHL proceeded to obtain a K6 billion bail out from Admarc to be used in servicing all outstanding debts as well as to embark on restructuring process.
Among others the company wants to lay off some junior staff members.
Alexander Kusamba Dzonzi board chairperson for Admarc has asked AHL to fix the financial mess at Malawi Leaf first where money amounting to K42 billion is said to have gone missing before proceeding to retrench junior staff members.
Dzonzi has also tipped AHL to focus on rebuilding the public image of one its subsidiary companies Malawi leaf before the company embarks on a restructuring drive.Follow and Subscribe Nyasa TV :