Simba Corp To Lay Off 5 Percent Of Staff

Simba Corporation, a company that has been in Kenya for over 50 years offering motor vehicles sales, hospitality, power systems, and vehicle financing is going to lay off more than 1,500 staffs from an estimated workforce of 30,000.

Simba Corp Group executive chairman Adil Popat (left) and group chief executive officer Dinesh Kotecha. Photo courtesy

Simba Corp CEO announced that they will be restructuring the company’s operations citing need to reduce costs and improve service delivery in this hard times for any running business in Kenya.

“We are restructuring our business processes to enhance efficiency in our operations, reducing costs and improving service delivery to our customers.” Simba Corp CEO Dinesh Kotecha said in a statement.

After the announcements hit the media, CEO Dinesh Kotecha released another statement further revealing that the restructuring process will affect less than 5% of its workforce.

“We would like to state that we anticipate less than five per cent of our group workforce will be affected by this restructuring process. The restructuring stems from prevailing economic market conditions in our market and industry than any other factors.” 

Since Jubilee took power in 2013, Several companies have retrenched citing hard economic times and difficult operating environment with majority of local firms halting their operation.

In September, Kenya’s biggest sports betting firms Sportpesa and Betin Kenya halted their operations after lengthy tax standoff with the Jubilee administration.

Again, in September this year, cash strapped East Africa Portland Cement Company (EAPCC) sent packing 136 supervisors and managers in a restructuring move.

In October, Uhuru and Ruto’s owned Mediamax Networks Limited fired at least 160 employees redundant, in a bid to cut costs. The list is soo huge— literally, the country is collapsing and unmangeable foreign debts are an additional insult to the dangling economy.

Kenya’s current economic model, of course under Uhuru Kenyatta and William Ruto, is the actual study of INEQUALITY BY DESIGN.