Triangle retrenches as economy bites

SUGAR company, Triangle Limited, will undertake a phased retrenchment programme with the first group leaving at the end of next month amid a tough operating environment, the company said yesterday.

In a statement, Triangle said the phased approach, which allowed it to manage the transition with the utmost sensitivity and care, will be completed by the end of August this year.

While the company did not give the number of the employees to be affected, it said escalating operational costs, particularly in areas such as fertiliser, fuel, maintenance costs and imported goods and services, combined with inflationary pressures and currency losses, had severely impacted its ability to sustain operations.

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