Sugar producer Triangle Limited has announced a three-phase retrenchment plan, citing rising operational costs, inflation, and competition from low-cost, duty-free sugar imports as key factors.
The company’s Managing Director, Tendai Masawi, described the move as a necessary response to unsustainable financial pressures. Since 2022, Triangle’s profit margins have dropped 55%, while manpower costs have surged by 133% as a proportion of revenue. Efforts to cut costs and boost revenue have failed to stabilize the business.
The retrenchments, beginning in February 2025 and concluding in August, aim to protect the company’s long-term viability. Triangle pledged fair severance packages and transparency in collaboration with unions and stakeholders.
