HARARE – The Zimbabwe Newspapers Group (Zimpapers) is cutting 154 jobs after announcing mandatory retrenchments on Wednesday.
Most of the job losses are expected to be felt at its loss-making television division, Zimpapers Television Network (ZTN), insiders said.
Company executives met workers’ representatives in Harare on Wednesday, where the planned staff cuts were announced.
“They said 154 jobs will go in the first phase, which means more people will be forced out in the next phase,” an individual familiar with the discussions said.
Zimpapers, Zimbabwe’s biggest media group, employs more than 900 people across its newspapers, radio, television and printing divisions.
In a statement, the company said it was cutting jobs as it transitioned into a “digital-first organisation”, but did not disclose the number of positions affected.
Board chairperson Doreen Sibanda said the newspapers division would be realigned into a digital- and mobile-first operating structure.
“These changes require the reorganisation of operations, consolidation of functions, and optimisation of organisational structures,” she said.
“As a result, certain positions have become redundant within the revised operating model, and the company has commenced a retrenchment process in compliance with applicable labour laws and established human resources procedures.
“Zimpapers remains committed to treating all affected employees with fairness, dignity and respect throughout the process while continuing to deliver quality content and services to its audiences, advertisers, shareholders and other stakeholders.”
Zimpapers said it would immediately inform the National Employment Council and the Retrenchment Board of its decision, which would be followed by the affected workers being handed their retrenchment letters.
The restructuring has already resulted in changes to the group’s editorial management.
Sunday News editor Hatred Zenenga is now doubling up as editor of The Chronicle following the departure of Lawson Mabhena, who has taken up the position of head of news for all Zimpapers titles and based in Harare.
Zimpapers is facing the same structural pressures confronting newspaper companies globally, with declining print circulation and advertising revenues as audiences increasingly consume news online.
Its expansion into television through ZTN has added to the financial strain. The capital-intensive operation has accumulated substantial losses and has relied on subsidies from the group’s other divisions, according to insiders.
Zimpapers is listed on the Zimbabwe Stock Exchange. The Zimbabwe Mass Media Trust, which is controlled by government, owns 51 percent. Other key shareholders include Old Mutual and investment companies linked to businessman Nicholas van Hoogstraten.
The company’s full-year financial results for 2025 showed a business in accelerating decline across all three operating divisions simultaneously.
Revenue fell 15.5 percent to ZWG 622.1 million from ZWG 736.5 million in 2024. Gross profit fell 26 percent to ZWG 300.8 million, with the gross margin contracting from 55.3 percent to 48.3 percent, a seven percentage point compression that indicates costs did not fall at the same rate as revenue.
The loss from operations widened from ZWG 17.3 million to ZWG 74.6 million, more than quadrupling in a single year. The loss before tax grew from ZWG 55.7 million to ZWG 96.3 million. The loss after tax, which benefited from a tax credit of ZWG 12.8 million, was ZWG 83.5 million, up from ZWG 21.7 million in 2024, a deterioration of 284 percent.
No division is carrying the group. The newspaper division, which is the group’s largest revenue contributor at ZWG 342.8 million, generated an operating loss of ZWG 10 million against an operating profit of ZWG 9.2 million in 2024, a swing of ZWG 19.2 million in a single year. L
Advertising volumes fell 14 percent as retail sector clients cut spend and shifted budgets toward digital platforms that Zimpapers has been investing in but has not yet monetised at scale.
The commercial printing segment is the most acute operational crisis in the group. Revenue fell 44 percent to ZWG 84.1 million from ZWG 152 million, and the division posted an operating loss of ZWG 35.1 million against ZWG 6.4 million in 2024.
The broadcasting division is the only segment that showed improvement, with revenue growing to ZWG 195.2 million and its operating loss narrowing from ZWG 23.1 million to ZWG 17.6 million, driven by a 45 percent growth in radio volumes even as ZTN volumes fell 35 percent.
Total liabilities increased to ZWG 342 million from ZWG 249.9 million, a 36.8 percent increase in a year when revenue fell 15.5 percent. Trade and other payables grew from ZWG 164.9 million to ZWG 230.4 million, a 40 percent increase. Within that total, accruals and other payables surged from ZWG 80.6 million to ZWG 141.7 million, an increase of ZWG 61.1 million or 75.8 percent, which is the largest single working capital movement in the results.
Cash at year end was ZWG 5.4 million, down from ZWG 11.2 million in 2024. The company also carries a bank overdraft of ZWG 4.6 million, which did not exist in 2024, and net borrowings from FBC Bank of ZWG 20.7 million at an interest rate of 19 per annum secured against land and buildings. Net operating cash generation fell from ZWG 29.9 million to ZWG 21.1 million. Capital expenditure was ZWG 24.6 million, driven by the digital transformation programme and machinery investments.
The combined effect is a company that generated ZWG 21 million from operations, spent ZWG 24.6 million on assets, and ended the year with ZWG 5.4 million in cash and a new overdraft facility. No dividend was declared, with the board citing the company’s subdued performance and the need to conserve working capital.
Source: Zimpapers to cut 154 jobs to stem losses, refocus on digital – Zimbabwe News Now
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