TOUGH TIMES

State should offer solutions as firms plan mass layoffs

Out of over 60 listed companies at the NSE, 15 companies have announced that they are not making enough money

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. 

Unemployed youth hold placards advertising their skills
GROWING CHALLENGE: Unemployed youth hold placards advertising their skills
Image: REUTERS

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.