Kenya’s labour market is facing a turbulent six months, as over 3,700 employees have lost their jobs due to company closures, restructuring, and economic challenges.
The effects of the economy are directly crippling the pockets of these Kenyans who have lost their jobs.
Several major firms, both local and international, have downsized their workforce, citing high taxation, inflation, and tough business conditions as key reasons for the layoffs.
In this piece, we look at some of the companies that have so far laid off employees as the effects of the economy continue to sting.
Standard Media Group: The media group, once affluent and leading in Kenya, has been facing financial strains, which forced it to lay off over 300 employees as part of a restructuring plan.
G4S: The security and courier services firm declared redundancy affecting 400 workers. The company, which has been a prominent player in the security and logistics sector, cited the effects of reduced revenue and high operating costs as the primary drivers behind the difficult decision.
Base Titanium: The mining company exited the Kenyan market after years of business. In January, the company laid off 1,600 employees after operating for a decade and concluded its mining operations in December 2024 due to the depletion of commercially viable ore.
Tile and Carpet Centre and BAT Kenya also announced layoffs in the same span of six months due to financial difficulties, cost-cutting, and downsizing, respectively.
Another company that laid off employees is Procter & Gamble (P&G), which exited the Kenyan market in December 2024. The exit led to a job loss of more than 850 Kenyans. The company cited operational costs, currency fluctuations, and declining sales as its reasons for exit.
Other companies that followed the trajectory are Unga Group, which laid off 50 employees, Twiga Foods, which laid off 250, CIC, which laid off 75 employees, and De La Rue, which laid off 300 while it exited Kenya.
CMC Motors exited Kenya, AMREF, which was affected by the USAID foreign cuts, laid off over 400 workers, KK Security laid off 1000, Posta Kenya laid off 600, and Radio Africa, which was the latest that laid off 27 employees.
The wave of company closures and mass layoffs in Kenya underscores the growing challenges businesses face due to high operating costs, inflation, and shifting market dynamics.
