At least 500 workers of the Zimbabwe Broadcasting Corporation will be retrenched in a restructuring exercise meant to turnaround the public broadcaster that is saddled with a US$44,3 million debt which is to be assumed by Government.

The corporation is technically insolvent as it is realizing only US$275 000 per month in revenue against a budget of US$2,3 million of which US$1,6 million should go to workers' salaries.

 ZBC workers have gone for over six months without salaries. Additionally, the company is in arrears of US$8,3 million owed to the workers for outstanding salaries, while it also has to meet some statutory obligations.

 Secretary for Information, Media and Broadcasting Services, Mr. George Charamba, yesterday told the Portfolio Committee on Media, Information and Broadcasting Services that the corporation was overstaffed.

 Mr. Charamba said they were also engaging Government to assume ZBC's debt as one of the measures to restore its viability adding that the real viable option that they are pursuing is that of debt assumption to get Government to agree to assume the debt ZBC has so that they can restore some viability to ZBC.