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State should offer solutions as firms plan mass layoffs

15 companies listed in NSE have announced that they are not making enough money.

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by Joseph Macharia

Opinion14 August 2019 - 11:05
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In Summary


• This is a great danger to the economy of the nation as well as the social situation of the society as anti-social vices may rise. 

• State is already facing unemployment challenges to have more people added to the jobless group. 

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Unemployed youth hold placards advertising their skills

The rate of unemployment in the country particularly among the youths is of great concern.

Even as various stakeholders labour to address this issue, the situation seems to worsen as some companies announce plans to lay off staff.

Out of over 60 listed companies at the Nairobi Securities Exchange, 15 companies have so far announced that they are not making enough money.

Where companies announce a plan to lay off employees, the government should rush and see how it can help such companies to prevent robbing people of their jobs.