LOCAL NEWS

2000 To Lose Jobs As Fossil Group Is Listed Under U.S Sanctions

Following the company's inclusion on the US sanctions list, Fossil Group plans to lay off around 2000 employees

The United States of America added four people to the sanctions list on Monday: Emmerson Jnr, Obey Chimuka, Nqobile Magwizi, and businessman Kudakwashe Tagwirei’s wife Sandra Mpunga. Economic embargoes were also imposed on two utilities firms, Fossil Agro and Fossil Contracting.

The US Treasury Department’s announcement included no mention of Obey Chimuka’s alleged crime, nor of corruption or human rights crimes, other than him knowing Tagwirei, which has become a “new felony.”

However, just a day after the writing of Fossil, the business plans to lay off roughly 2000 staff, claiming viability issues caused by the restrictive regulations.

The company currently employs 3000 workers.

The company contends that the illegal economic sanctions have a negative impact on its operations, and people are set to lose jobs.

“As early as this morning (Tuesday), a meeting was held where it was hinted that more than 2000 employees will lose their jobs,” said the insider.

A number of issues, the insider revealed, were discussed in the crisis meeting which resolved laying off some workers as a sanctions busting measure.

The meeting also deliberated on the selective application of the sanctions regime.

“In command agriculture, there were more than 10 firms supplied inputs and Fossil Agro was not the only company government contracted neither was it the largest, FSG which is white owned was the largest company and one wonders why sanctions were imposed on a black owned firm,” part of the deliberations, according to the insider.

“This shows Americans have double standards and they are trying all available options to cripple black owned companies through the imposition of illegal economic sanctions.”

When Sakunda was drafted on the sanctions list, it laid off 3000 employees as a survival measure.

The US and Zimbabwe have traded blows over sanctions, with Zimbabwe accusing America of using sanctions for a regime change agenda by forcing impoverishing the population with the intention of forcing them
to revolt against the government.

America has however insisted that corruption was the cause of the economic meltdown in Zimbabwe.

Fossil Contracting is being involved in major infrastructure projects with Harare-Beitbridge road rehabilitation, Mbudzi interchange construction works with a number of big firms.

The insider disclosed that the meeting also questioned why Fossil was targeted for sanctions.

“In the road construction Fossil Contracting was not even the largest company, Bitumen World is and international company with vast experience in the construction same as Masimba Holdings, but sanctions were imposed on Fossil Contracting with links to Kudakwashe Tagwirei being the crime.

“This shows Americans are against anyone who wants to see the success of the m Second Republic.”

Zimbabwe has of the highest unemployment rate in the world, pegged at more than 90%.

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