East African Portland Cement (EAPC) plans to cut its management and support staff through a voluntary retirement scheme as part of its rationalization programme to achieve sustainable operational costs.
Acting managing director Stephen Nthei says applications will be expected between Thursday and June 15, 2020 and is open to all workers.
“Our primary intent is to be as transparent as possible and provide our people with choices as we continue to reshape our business as a win-win approach to staff issues,” Nthei said in a communique.
“The Management and the Board of Directors envisages that this program shall support the company’s initiative to develop a sustainable business model in the long run for posterity.”
It terminated contracts of an estimated 150 employees in administrative roles from 800 that had been targeted.
In February, the state-owned corporation said its full-year net income ended June 2019 dipped to Ksh 3.3 billion compared to Ksh 7.9 billion due in large part to staff rationalization and constrained market.
We will ensure that the Company retains the capacity to meet the needs of our customers, as well as the wider industry requirements,” EAPC Plc Ag. Managing Director Stephen Nthei.