Tyre manufacturer Sameer Africa #ticker:FIRE has laid off 277 employees following the closure of its Yana factory in Nairobi, marking a downturn for the firm majority-owned by billionaire businessman Naushad Merali.
The Nairobi Securities Exchange-listed firm spent Sh293 million in staff redundancy costs, working out at a simple average payoff of just over Sh1 million per retrenched employee.
