The year saw several companies implementing layoffs across industries, reflecting economic challenges, restructuring efforts, and shifts in business strategies.
Media houses like Nation Media Group and Standard Group let go of staff as they adapted to digital disruptions and declining revenues.
Other sectors, including manufacturing and technology, also experienced job cuts, reflecting the broader economic pressures in the country.
This move has resulted in substantial job losses, impacting a section of the citizens and raising concerns about the future of the country’s labour force.
Companies That Fired Employees This Year
Nation Media
The Nation Media Group (NMG) in June this year announced that it will be laying off members of its staff as part of a workforce reduction due to the rapid changes in the journalism world.
According to NMG, the move is aimed at adapting to the rapidly changing media landscape, driven by shifts in audience consumption habits and technological advancements.
“As part of the continued implementation of our strategy, we are evolving into a leaner, more agile organization that will drive the efficient delivery of services to our audiences and innovate rapidly to reap the benefits of the digital economy.
“Regrettably, this will necessitate a workforce reduction.” further read the statement.
Also Read: Why Companies Are Firing Permanent Employees in 2024- CBK
Twiga Foods
Kenyan e-commerce and food distribution start-up Twiga Foods in August 2024 announced a fresh round of layoffs.
Agri-tech firm Twiga Foods announced that it was firing 59 employees as part of its business restructuring efforts.
This marked the second round of job cuts within a year, following the dismissal of 283 employees in August 2023.
“The delivery of these efficiency enhancements to the organization will regrettably impact 59 positions,” the company said in a notice.
Radio Africa Group
Radio Africa Group, one of Kenya’s largest media conglomerates, announced in July a major restructuring plan that would result in significant job losses across the company.
In an internal memo dated July 17, the company’s management cited the numerous challenges facing the media industry as the primary reason for the restructuring.
The memo, which was addressed to all correspondents, stated that the company was working towards creating a “leaner and more efficient organization”, a move that the company’s management notes will necessitate some structural changes.
“As you may be aware the media industry has been going through tough times in the recent past. The changes have affected business model and has caused unexpected changes in the business strategy and structures.”
“As part of our transformation strategy, we are working on creating a leaner and efficient organization. Regrettably, this will necessitate some structural changes,” reads the memo in part.
Standard Group
Standard Group issued a notice to all staff about its plan to declare redundancies as the company struggled to stay afloat.
In an internal memo dated September 1, Acting CEO Joe Munene announced that the layoffs would affect employees across multiple departments, citing various factors behind the decision.
According to Munene, several factors pushed the company to let go of some of its staff in the looming mass firing exercise. write main point in past tense.
More Companies That Announced Layoffs
WPP Scangroup
WPP Scangroup, an advertising firm, in April announced a comprehensive restructuring plan that includes staff layoffs and strategic changes in its corporate structure.
This decision comes in the wake of challenges faced by the company as it seeks to remain afloat.
The restructuring initiative involved downsizing and reorganizing roles within various units of the company.
According to a notice issued by the company, WPP Scangroup intended to close and dissolve certain dormant subsidiaries across Africa.
Also Read: 5 Multinationals Based in Kenya Firing Employees in 2024
Copia Global
Kenyan e-commerce and financial services platform Copia Global laid off at least 1,060 employees, suggesting the company was on the brink of a shutdown or massively scaling back operations.
In a 20-minute meeting with staff, Copia CEO Tim Steel and administrators appointed last week to take over the company asked employees to return company property, including laptops and tablets, and sign their termination letters on Friday, June 7th.
Explaining the reason for the move, Copia’s management indicated that it was undergoing financial challenges and was therefore unable to sustain the employees.
Base Resources
Base Resources, an Australian based Titanium miner in Kwale in March this year set aside Ksh1.1 billion ($7.7 million) to compensate its employees as it closes its operations in Kenya.
The company which had 1,746 employees in 2023, 870 of the employees being Kenyans from Kwale and Mombasa counties, had announced a mass layoff in October 2023.
It cited the depletion of commercially viable ore at the mining site as the reason for the closure and its move to Madagascar.
Betsafe Kenya
Betsafe Kenya announced that it was shutting down its operations in Kenya effective May 14, 2024.
The company, which launched operations in Kenya in 2020, closed down, rendering its Kenyan employees jobless.
Other companies that announced layoffs include Foschini, Procter & Gamble (P&G) and GlaxoSmithKline.
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