The Standard Group management is reportedly set to conduct a major retrenchment exercise from July 27.
This bold cost-cutting move has prompted the management to offer all its staff an option of applying for early retirement.
Nairobi News reports that the Group chief executive officer Sam Shollei has said staff members who opt for the early retirement will get a better package compared to those who wait to be retrenched.
The package however, will depend on the number of years an employee has worked, one’s salary and whether or not they are in a union.
It is alleged that the management expects applications from workers who feel their departments are bloated, those who feel they are adding no value to the company, as well as workers who are not ready to stretch themselves after the retrenchment.
The Standard Group is laying off 250 employees from today. Terrible news for my colleagues there & the industry. What a bad year for media
— LarryMadowo.co.ke (@LarryMadowo) June 26, 2015
