NAIROBI, Kenya, Mar 12 – An unknown number of employees working with OLA Energy, a fuel retailing company, are set to lose their jobs as the firm moves to boost profitability and increase market share over the next five years.
In a statement, the firm attributed current unsustainable fixed costs to the need to send some workers home.
Affected employees will be accorded a redundancy package in accordance with Kenyan law.
“During the past year, OLA Energy Kenya initiated a rescue action plan with several initiatives to turn around the trajectory the Company was taking, including increasing sales and reducing costs,” the firm announced in a statement.
“Through this restructuring, we are committed to reversing the current trends and positioning OLA Energy Kenya for sustainable growth.”
OLA’s expected job cut comes at a time when a number of Kenyan firms have also implemented redundancy measures amid slowing business activities as well as high taxes, including housing levy, SHIF, and NSSF.
In November last year, for instance, Tile and Carpet Centre began sending home employees in December at its Athi River production department, citing economic and production challenges as key drivers.
Similarly, G4S said in November 2024 that it will be sending home 400 workers due to tough economic conditions.
“The restructuring, announced by the company, will support an aggressive sales enhancement and operating cost containment program designed to reinforce OLA Energy Kenya’s position as a major retailer of energy solutions,” OLA Energy added.
