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Path to sustainable businesses and jobs stability in Kenya beyond layoffs
Kenya needs to institutionalise a corporate-government distress support framework, similar to models in Germany or Singapore, where companies under duress can apply for temporary relief in exchange for preserving employment levels.
In recent months, Kenya has experienced a concerning surge in mass layoffs across various sectors, including banking, manufacturing, technology, and media.
This wave of job losses has not only disrupted thousands of livelihoods but also triggered ripple effects in the economy, straining household consumption, increasing social vulnerability, and weakening aggregate demand.
