Eveready East Africa to lay off workers as it continues to implement its cost cutting strategy
Over 74 employees of Eveready East Africa are to be laid off thismonth, endorsing fears that the manufacturing plant, with its declining salesand profitability, may be removed from the Kenya market, and instead would relyon affiliates in South Africa or Egypt to feed the Kenyan market. Listed on theNairobi Stock Exchange in 2006, the company has never paid a dividend. Itsannual revenue has dropped from KES 2.3bn in 2005 to KES 1.6bn in 2009. Thebattery firm has been unable to cope with the onslaught of cheap imports,mostly from China.
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more
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