Saturday, May 30, 2020
Home Business News Companies East African Portland Cement announces job cuts

East African Portland Cement announces job cuts

- Advertisement -

East African Portland Cement has announced plans to lay off a huge section of its employees in an attempt to salvage its current wage bill.

Affected employees will, however, be given an opportunity to re-apply under the condition that they take a 40 percent salary cut.

The news comes at the wake when the cement producer and supply says it spends about 8 million on salaries making it difficult for them to stay afloat.

- Advertisement -

An internal memo is said to have been issued with interested staff expected to accept the new idea by the company or else face an ax.

In 2018, East African Portland Cement had a workforce of around 936 but the number has since dropped to about 800.

Also read: Nissan announce plans to cut 12,500 jobs

The workers were split into two categories that are the permanent staff and those on contract in a 50-50 ratio.

In the new structure, staff will be merged so as to salvage the company from its existing financial challenges.

Early next month the first bunch of workers is expected to be laid with the company estimating to spend 600 million in the exercise.

A golden handshake will be awarded to permanent staff including their accrued leave days and gratuity in regard to the period of employment.

Berryl Achieng
Kenyan news interests me a lot but I also keep tabs on other news making headlines in Africa and around the world.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Kylie Jenner lied she was a billionaire,reveals Forbes

Forbes has revealed that Kylie Jenner and those in her camp lied to them that she was a billionaire and that the...

Barack Obama breaks his silence over the death of George Floyd

Former President of the U.S Barack Obama has broken his silence over the cruel murder of George Floyd. Taking...

George Floyd: protesters attack police station, burn it down

Protesters in Minneapolis took to the street for the third straight day following the death of George Floyd in the hands of...

Kenya confirms 127 more coronavirus cases, 4 deaths

Kenya has confirmed an additional 127 cases of coronavirus raising the national tally to 1,745. The new cases are...