EA Portland Cement to lay off entire workforceAugust 8, 2019
NAIROBI, Kenya, Aug 8 – Loss making cement manufacturer East African Portland Cement is set to lay off all its employees in a restructuring plan expected to save the company from further losses.
In a memo seen Capital Business, the firm’s CEO Stephen Nthei says all positions in the company have been declared redundant and will affect both unionisable and non-unionisable workers in the company.
Nthei says the company has been making losses of up to Sh8 million daily which has impacted negatively on sales and subsequent profitability, hence the move.
Subsequently, all jobs will be reconfigured in terms of job consolidation and enrichment, in line with the restructuring.
In December 2018, the company’s losses widened by 30.7 percent to Sh1.26 billion in six months to December as revenues more than halved.