in ,

Simba Corp to Retrench At Least 1,500 Staffers As Going Gets Bumpy

Simba Corp Group executive chairman Adil Popat (right) and group chief executive officer Dinesh Kotecha. [PHOTO/ COURTESY]

Automotive company Simba Corporation, is set to send home at least 1,500 workers, as loss-making takes toll.

The retrenchment, according to reports by Business Daily, is attributable to a tough operating environment.

“I don’t see myself having more than five percent of employees attached to this group,” said Chief Executive Dinesh Kotecha.

In an internal memo addressed to staff members, the management says it is working with heads of departments to confirm the positions that will become redundant from the identified areas at risk.

Last year, the firm lost the BMW franchise to London-based Inchcape Plc and has been in constant litigation since then fighting to retain its Renault business.

Read: Mediamax Sacks 160 Employees Including 10 K24 TV Editors

Several companies based in Kenya have retrenched in the recent past, citing hard economic times and difficult operating environment.

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

In October, Mediamax Networks Limited declared at least 160 employees redundant, in a bid to cut costs.

In July, Cfc Stanbic Bank announced that it was going to lay off at least 200 workers in a cost cutting move.

Email your news TIPS to news@kahawatungu.com or WhatsApp +254708677607. You can also find us on Telegram through www.t.me/kahawatungu

Written by Francis Muli

Senior reporter at Kahawa Tungu, Muli has a passion for human interest stories. Believes in unearthing societal rots that have been hidden from the public eye.
Follow me on Twitter @FmuliKE. Email francis@kahawatungu.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

kalekye mumo

Kalekye Mumo Speaks Out On Illness After Being Discharged From Hospital

david mberia, odm minority leader

ODM Replaces Defiant Elias Otieno As Minority Leader, Replaced By Karen MCA Mberia