Standard Group sacks over 300 employees thanks to RUTO who has failed to turn around the economy as he promised

Friday, August 2, 2024 - Standard Group plans to fire hundreds of employees due to harsh economic conditions attributed to President William Ruto's failure to stabilize the economy as promised during his campaign.

In a notice served to all the employees and published on its online platforms, the media house based along Mombasa Road revealed that over 300 employees would be affected.

The media house explained that the move was necessitated owing to the strained generation of revenue while taking into consideration a sizable workforce.

Therefore, the media house noted it was forced to undertake organizational restructuring by letting some of the workers go.

As detailed by the group, the communication was a one-month notice and the layoffs will commence on August 31.

"As part of its compliance procedures, the Standard Group PLC issued a notice of intention to declare redundancy as stipulated in section 40 (1) of the Employment Act, 2007.

"In reaching this decision, we took into consideration, the difficult operating environment and its long-drawn effect on revenue generation," read the notice in part.

The relevant offices will inform employees affected by the redundancies in writing in the coming days.

However, despite being laid off, the media house detailed that the employees would be entitled to some benefits as they exit the company.

Meanwhile, more changes are expected to be undertaken within the media house and its products as the company integrates digital media into its operations.

Some of the platforms run by the media house include KTN Home, KTN News, The Standard, Radio Maisha, Spice FM, and The Nairobian. 

The Kenyan DAILY POST