East Africa Portland Cement To Lay Off All Employees In Restructuring Program
Blue Triangle Cement manufacturer East Africa Portland Cement has announced that it is set to lay off its 2000 workers in a restructuring move.
In a letter to workers, acting Managing Director Stephen Nthei revealed that the company is recording a Ksh8 million loss on daily basis.
“Currently we suffer daily losses of up to Ksh.8 million. In the last three years, the company’s market share has also dropped drastically impacting negatively on sales,” says Nthei.
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The company says that it has been unable to modernise its old and dilapidated machinery to increase its competitive advantage.
“As a result of the restructuring program, all positions in the company will be declared redundant and the employees released,” adds Mr. Nthei.
The firm has been unable to make profits in the recent years, opting to retrench several workers since 2016.
“The company acknowledges that the exercise is a difficult decision but the best option in the present business circumstances,” Nthei adds.
The first batch of affected employees is expected to be released within a month.
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