More than 400 Kenyans will lose their jobs between November 2024 and April 2025 as G4S Kenya announces job cuts. A G4S worker pressing a doorbell. Why G4S plans to layoff workers G4S Kenya declared redundancy, citing harsh economic conditions that had reduced business and raised costs of operations. The leading security and courier services firm said the job cuts will take effect from November 4, 2024, to April 2025
The redundancy is likely to affect employees in various G4S Kenya offices across the country, working in both categories of management and union members “The redundancy exercise is likely to affect approximately four hundred (400) employees based in various locations in Kenya in both categories of management and unionsable cadres between November 4, 2024, and April 2025.
“G4S Kenya Limited remains fully committed to the Kenyan market. We intend to implement solutions that will secure employment for our employees while sustaining positive business performance,” said G4S Kenya. Tile and Carpet Centre announces redundancy Meanwhile, Tile and Carpet Centre issued a notice of redundancy in its Athi River production department. According to Capital Business, the company said the restructuring process is scheduled to begin on December 6, 2024, paving way for the business sustainability.
The company’s Human Resource Manager, Mandeep Degon, noted that the job cuts resulted from a decline in production demand and economic constraints. ““Downsizing operations at our production plant is necessary to maintain the company’s long-term viability,” said Degon. Kenya’s economy is projected to slow The International Monetary Fund (IMF) projected tough economic times for Kenya, estimating slow growth.
In its 2024 World Economic Outlook report, the International Monetary Fund (IMF) revised Kenya’s projected GDP growth from 5.3% to 5%. Central Bank of Kenya (CBK) attributed the slow growth to heightened geopolitical tension in the country, among other risks.
by Wycliffe Musalia