CBZ to Retrench at Least 300 in Restructuring Exercise
In a bold move to align its strategic direction with the rapidly evolving business landscape, CBZ Holdings undertook a comprehensive restructuring exercise across its group of companies in October 2024.
The initiative, which concluded on 31 January 2025, marks a significant milestone in the organisation’s efforts to enhance operational efficiency, solidify its market position, and ensure long-term sustainability in an increasingly competitive environment.
The restructuring exercise was designed to position CBZ Holdings for continued growth and success by adapting to the changing demands of the market.
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As part of this process, the organisation made the difficult decision to impact 347 staff roles in the second phase of the restructuring, out of a total workforce of 1,448.
While these changes were necessary to streamline operations and optimise resources, CBZ Holdings has expressed its deep gratitude for the contributions of all affected employees.
Lawrence Nyazema, Group Chief Executive Officer of CBZ Holdings, emphasised the organisation’s commitment to supporting impacted staff during this transition.
“We recognise the invaluable role that each employee has played in our journey, and we are dedicated to providing the necessary resources and assistance to help them navigate their next steps,” he said.
CBZ to Retrench at Least 300 in Restructuring Exercise
This includes offering career transition support, counselling, and other resources to ensure a smooth and respectful process for all parties involved.
Read full statement below:
CBZ HOLDINGS RESTRUCTURING EXERCISE In October 2024, we undertook a restructuring exercise across our Group of Companies to better align our strategic direction with the evolving business landscape. This initiative has been a key component of our broader efforts to enhance operational efficiency, strengthen our market position and ensure long term sustainability. By adapting to the changing environment, we aim to position the organization for continued growth and success in a competitive market. We would like to confirm that we have now concluded the restructuring exercise as of 31 January 2025. As part of the process a total of 347 staff roles were impacted in the second phase of the restructuring out of a total staff complement of 1448. We are deeply grateful for the contributions of all affected employees, and we are committed to supporting them during this transition and providing the necessary resources to assist in their next steps. As CBZ Holdings, we remain fully committed to strengthening the organization for the future while continuing to serve our stakeholders with excellence. Lawrence Nyazema – Group CEO
