Non-bank private sector companies intend to shed 19 percent of the workforce they had last year, a July 2024 Central Bank of Kenya (CBK) survey shows, extending a series of cost-cutting measures in a tough economy.
This is an increase from March and May, when top non-bank executives told the CBK they would shed 18 percent of the workforce they had last year. It is also a notable change from the beginning of the year, when non-bank employers had indicated that they would shed 15 percent of the workforce they had in 2023.
