Wire Product Limited is set to declare 178 positions redundant, and the employees to be terminated on May 17, 2024, due to financial constraints.
In a letter by the company’s general manager, Preeth Xavier, directed to the secretary general of the Kenya Engineering Workers Union, the redundancy process will be carried out in three phases: where the first batch will be in May, the second batch in June, and the third batch in July.
However, Xavier has assured that the company will support the employees throughout the process and ensure that their final dues are fully paid.
“This is a tough decision, and we understand its impact on the employees and their families. The company commits to offering support to employees throughout the process.”
The Wire maker has pointed out that this decision was inescapable, given that the company’s decline was evident despite the company’s efforts to cut costs and increase sales.
Did you read this?
“Wire Products Limited has continued to experience financial difficulties that have impacted the company’s sustainability. This decline in business has occurred even with our concerted efforts to cut costs, increase sales and protect the company’s future well being.”
