NWR undertakes voluntary retrenchments

18 October 2020 | Business

Namibia Wildlife Resorts (NWR) announced that it has began a voluntary separation exercise to align its staff numbers in light of the impact that Covid-19 has had on the tourism sector.
As from 22 September 2020 to 22 October 2020, NWR has provided its staff with an opportunity to separate from the organisation voluntarily.
The voluntary separation exercise comes against the backdrop of its board of directors and senior management team, taking a 25% reduction in earnings.
However, these efforts alone have not been sufficient to place the organisation in a better financial position. Therefore the NWR EXCO submitted a cost-cutting plan to its board of which they approved. One of the measures in the plan was voluntary separation with the view of ensuring the sustainability of the organisation.
NWR is offering its employees who would like to separate voluntarily the following:
• Two week’s salary for every year of uninterrupted service as a severance pay-out.
• Any leave balances as at 30 September 2020, subject to a maximum of 60 days will be paid-out.
• Any accrued leave days above 60 days will be paid at 50% or half of the excess days.
• Any employee entitled to an annual birthday bonus, a proportion equal to the months since the last bonus will be paid out.
• One month’s salary in lieu of notice.
• Total Pension Fund credit in line with the Pension / Provident Fund Rules / Laws
• Transport to the place of normal residence (within the borders of Namibia) for them and their belongings.
“Based on worldwide experiences, we are aware that it would be difficult for us to have the same staff profile pre-Covid. Most companies around the world have begun following the same trend to find ways of reducing their wage bill and other operational costs,” NWR managing director Dr Matthias Ngwangwama said.

Similar News

 

NBL celebrates a centenary

8 minutes ago | Business

“We are officially 100 years old today and what an adventurous journey it has been for our business!” says an excited Marco Wenk, managing director...

Poiya Media: A success story

2 days ago - 27 October 2020 | Business

As Poiyah Media celebrates over 1000 days in business, it welcomed its sixth group of interns to its public relations agency.Since inception, Poiyah Media not...

Supporting all that is ‘local’

2 weeks ago - 14 October 2020 | Business

The Buy Local Grow Namibia campaign which was officially set in motion on 1 October 2020, continues to gain momentum.The campaign which is set to...

Market hours extended in capital

2 weeks ago - 13 October 2020 | Business

Windhoek mayor Fransina Kahungu announced that trading hours at markets have been amended, allowing more time for vendors to sell their wares. This arrangement comes...

#GrowYourBusiness talks launched

3 weeks ago - 06 October 2020 | Business

Standard Bank Namibia and the Namibia Economist launched series of online #GrowYourBusiness talks to inspire business owners and provide them with guidance, monitoring and management...

SAIF announces new leadership

3 weeks ago - 01 October 2020 | Business

Marco Wenk of Namibia Breweries Limited was elected as chairperson of the Self-Regulating Alcohol Industry Forum (SAIF) during their recently held AGM. At the same...

Omboga powdered spinach soup hits the market

4 weeks ago - 29 September 2020 | Business

The Development Bank of Namibia (DBN) celebrated the culmination of its support to 2018 Innovation Award winner, VNA Foods, at the launch of the fledgling...

DBN Innovation Award winner makes strides

1 month - 24 September 2020 | Business

Winner of the Development Bank of Namibia (DBN) 2019 Innovation Award, Pulsar Electronics, is making strides with a DBN enterprise development and support package that...

Drive local, support local

1 month - 24 September 2020 | Business

If you are in the market for a new or used Volkswagen, or if your prized possession needs a specialised service, then look no further...

Just the best for baby

1 month - 24 September 2020 | Business

Belle's Baby Boutique opened a mere three months ago, but has grown in leaps and bounds since then.According to owner Isabelle van der Walt, her...

Latest News

Grieving parents sue health ministry...

29th of October 09:22 | Health

Windhoek • [email protected] pair of grieving parents is suing the health ministry for between N$2 million and N$3 million for breach of duties and gross...

NBL celebrates a centenary

8 minutes ago | Business

“We are officially 100 years old today and what an adventurous journey it has been for our business!” says an excited Marco Wenk, managing director...

Breast cancer: Early detection saves...

1 hour ago | Opinion

Windhoek • Marjolize ScholtzOctober is breast cancer awareness month and this year it is celebrated under the theme ‘Give Hope. Save Lives.”So far, 2020 has...

Walking the talk

16 hours ago | Society

It began as an invitation for a group of friends to take a casual walk in support of breast cancer awareness last week. But it...

Namibia ready for Eilat!

1 day - 27 October 2020 | Sports

The world watched on Sunday and Monday, as the Namibian Esports team took on the team from South Africa online in the Southern Africa Region...

Hot hockey on the cards

1 day - 27 October 2020 | Sports

The Namibia National Inline Hockey (NIIHA) team trials where held last weekend and while the temperature outside was hot, the action inside was on fire!This...

Micro grant for Gobabis foundation

1 day - 27 October 2020 | Society

The Light for the Children Foundation in Gobabis received N$180 000 from the German embassy's micro project fund to implement safety measures at its school...

Aiming for top cycling honours

1 day - 27 October 2020 | Sports

The Nedbank Desert Dash is the principle for every cyclist, and this year, the Namibia Cleaning Chemical Solutions (NCCS) Cymot Pro Cycling team says the...

Purchasing property for the parents

1 day - 27 October 2020 | Life Style

It is not uncommon for those who find themselves in a better financial position than that of their parents, to purchase a property on their...

Load More