Telkom Kenya Announces Retrenchment Of 500 Staffers

Number three telecommunication company Telkom Kenya has announced plans to retrench over 500 staffers in a restructuring move.

In a statement to newsrooms, the company says the the move is aimed at propelling the company to number two in the telco market.

“The company must align its cost structure and skill-set with its Strategy. This requires Telkom to restructure its business, and as a result, this will impact the current and long-term needs of its workforce. This restructuring will enable Telkom to not only invest in its business but more importantly in its people,” read the statement in part.

The company has approximately 1400 employees, hence after the retrenchment the company will remain with 900 workers.

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“Since 2016, Telkom has successfully rebranded, invested Ksh14 billion into its business to expand its network coverage, launched 4G services and its mobile money services platform, T-kash. Telkom has initiated a revamped strategy to become the credible number two, the challenger in the market,” adds the mobile operator.

Telkom has already issued a 30-day notice to the Ministry of Labour, meaning that the workers will be shown the door by the end of November.

Safaricom is the current market leader at 65.4 per cent followed by Airtel at 21.4 per cent while Telkom is third at 8.8 per cent.