Copia Kenya has announced that it will lay off 1,060 employees due to financial constraints.
According to a statement by the retailer, restructuring comes amid ongoing financial challenges despite efforts to secure additional funding and navigate the obstacles it faces.
“In light of our persistent financial challenges and despite our best efforts to explore avenues for additional funding, we find ourselves compelled to undertake a comprehensive organizational restructuring to ensure the sustainable k ity of our operations or even consider the possibility of shutting down.”
Copia Kenya has started the process by serving affected employees with the requisite one-month notice period, as mandated by labor laws.
It clarified that the layoffs would exclusively affect individuals whose roles are directly impacted by the restructuring.
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However, the company cautioned that should operations be entirely halted, all staff members wil be at risk of termination.
