Popular Petrol Station Chain Announces Mass Layoffs
A significant number of Kenyans are set to lose their jobs after a well-known petrol station chain with branches across the country announced plans for a large-scale layoff.
In an official statement dated Wednesday, March 12, the company disclosed that it had embarked on a strategic business restructuring process aimed at improving profitability and increasing its market presence in Kenya over the next five years.
According to the company, the restructuring is part of an ambitious plan to boost sales while cutting down operational costs.
This initiative is designed to strengthen its position as a leading provider of energy solutions in the region.
However, the company acknowledged that due to existing financial challenges, it has been struggling to maintain its current fixed expenses.
As a result, it found it necessary to implement job cuts. “It is, therefore, with deep regret that we must proceed with a redundancy program,” the company stated in the official announcement.
In the past year, the company had introduced several turnaround strategies, including cost-cutting measures and efforts to boost sales, in a bid to stabilize its financial position.
Despite these efforts, the company indicated that reducing its workforce was the only viable solution to sustain operations and ensure long-term growth.
The company reassured its employees that the retrenchment process would be conducted with great sensitivity and in full compliance with Kenya’s labor laws.
The petrol station is one of Africa’s most prominent fuel retailers, operating over 1,300 service stations across 17 countries. It serves more than 500,000 customers daily and has a presence in 60 fuel terminals and 54 airports across the continent, including Jomo Kenyatta International Airport (JKIA) in Nairobi.
With a workforce of over 1,500 employees, the company’s operations also create an estimated 20,000 indirect jobs.
The petrol station chain first entered the Kenyan petroleum market in December 2006. It later rebranded in 2018 to emphasize its Pan-African identity and commitment to delivering quality and reliable energy solutions. While the company provides a wide range of products and services, it has placed a stronger focus on LPG gas distribution.
Recent market reports indicate that the company’s market share dropped from 7.06% in December 2023 to 5.93% by June 2024, highlighting the financial struggles that have led to the current restructuring.
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