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Company CEOs see more staff layoffs in the next six months
From left: TIFA research director Maggie Ireri, Kepsa chief executive Carole Kariuki and Kepsa consultant Patrick Tonui during the release of the CEO Confidence Survey findings on April 25, 2017. PHOTO | DIANA NGILA
Nearly a fifth of Nairobi-based companies plan to reduce staff in the next six months because of an unfavourable business climate, a study commissioned by the Kenya Private Sector Alliance (Kepsa) shows.
The survey by TIFA Research says banks, microfinance institutions and transport companies foresee staff cuts arising from information technology (IT) disruption and completion of the standard gauge railway while other sectors expect a slowdown in growth associated with political uncertainty and harsh weather conditions that have depressed agriculture.
