Namibia: Retrenchments At Namibia Breweries 'An Absolute Last Resort' - MD

Managing Director of Namibia Breweries Limited (NBL), Marco Wenk confirmed that retrenchments would be an absolute last resort at the company.

In a media statement last week, Wenk: "We have instituted various cost cutting measures including salary reductions for executives, while the rest of our more than 900 employees have thus far continued to receive their full pay." The MD however, stressed that revenue had come to a virtual standstill over the past five to six weeks. All alcoholic beverages sales, specifically those above three percent alcohol content, are by far the largest part of NBL's business and have unfortunately been banned since 28 March 2020 and until the end of Stage 2. In addition, the prolonged ban on alcohol will start to impact finished and unfinished stock write-offs of significant proportions for NBL in the near future.

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