504 Postal Corporation of Kenya (PCK) employees will be laid off amid financial challenges, reducing its headcount to 1,860.

PCK expects monthly salaries for staff to drop from Kes 122 million to Kes 70 million after the layoffs.

“We will be sending home 504 workers in February next year. The plan has been approved by our parent ministry,” PCK Chief Executive Officer John Tonui told Business Daily.

 Information, Communication, and Technology (ICT) Ministry has already approved the dismissals.

PCK revenue has, over the years, been depressed amid competition from social media platforms such as Facebook and Twitter and drop-in letters sent.

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The restructuring exercise will cost the corporation Kes 1 billion.