East African Portland Cement sacks 1,000 staff

East African Portland Cement sacks 1,000 staff

Cement manufacturer East African Portland Cement (EAPCC) is set to retrench more than two-thirds of its staff in a restructuring plan.

The company, listed on the Nairobi Securities Exchange, has been ruled technically insolvent by the country´s Auditor General. It plans to lay off over 1,000 employees, reducing its staff count to 500.

The loss-making company has offered the government 2,000 acres of its idle land to be used to turnaround its fortunes including paying for the voluntary retirement programme.

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