Trouble is brewing at Ernst & Young after the South African office of the audit and advisory firm signalled its intention to lay off 42 senior and long-serving managers in the Nairobi office, which counts Co-op Bank #ticker:COOP, the Central Bank of Kenya and Absa Bank Kenya #ticker:ABSA among its customers.
The firm‘s outgoing CEO, Gitahi Gachahi, told the Business Daily that the firm has been performing well financially, raising questions about the motivation of the head office to lay off the workers.
