Nearly a third (31.3 percent) of manufacturers cut full-time jobs in the three months to November 2024, a new Central Bank of Kenya (CBK) survey shows, as half of them recorded lower sales in an environment of weak demand for goods and elevated operating costs.
The CBK survey of private sector chief executive officers (CEOs) in November shows that full-time jobs were shed during the period in which 56.3 percent of the manufacturers reacted to reduced sales by cutting production volumes and therefore requiring fewer employees.
