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Sanlam plans job cuts to stay afloat

Sanlam Kenya Group CEO Patrick Tumbo (right), chief finance officer Kevin Mworia (left) and Sanlam Life CEO Stella Ngunge on September 26 at the head office in Nairobi. PHOTO | DIANA NGILA

Sanlam Kenya Plc #ticker:PAFR has joined a growing list of companies which have opted for job cuts to either protect profit margins or stay afloat, painting a grim outlook for the corporate sector.

The firm will next month layoff tens of its staff as part of a cost-cutting strategy aimed at trimming operating costs by more than Sh200 million.

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