PSF retrenches 35

Thirty five employees of the Rwanda Private Sector Federation (PSF) yesterday lost their jobs in a move the body has attributed to financial constraints. The number, according to sources, includes senior officials of the Gikondo-based federation. The most senior official to receive a letter terminating work contract is the current Deputy CEO of the federation Some of the federation’s former employees, who spoke to The New Times, said their letters clearly read that they will be on leave for three months as management makes an assessment on whether they will be retained. It is also reported that during this time, the PSF management will have come up with a proper plan on how to give terminal benefits to the sacked employees. “I have lost my job and everyone is panicking over losing their jobs at PSF,” one affecetd employees said yesterday. By press time, these reports could not readily be confirmed by the PSF Chief Executive Officer, Emmanuel Hategeka, as he was reportedly attending a meeting. Hategeka on Wednesday confirmed that the restructuring is geared towards coping up with the on-going financial crisis. He however declined to mention when and how the restructuring would take place only saying that official communication would be made to that effect. PSF is partly financed by the Government, but also gets funding from contributions by its members and donor partners like the European Union (EU), World Bank, and GTZ that mainly channel assistance to financing research studies. Ends

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PSF retrenches 35