Tuskys Supermarket photo. PHOTO | BMS
Tuskys Supermarket. PHOTO | BMS

Tuskys Supermarket cuts off expenses by reducing the number of pf employees. What is known as restructuring, more 200 employees were sent home.

Retailer Tuskys says has fired part of its employees following a major re-organization of the firm’s strategy that saw the restructuring of various departments.

In a letter addressed to individual staff members and copied to the Nairobi Labour Office and the Secretary-General to the Kenya Union of Commercial, Food and Allied Workers (KUCFAW), the retailer says it is constrained forcing it to lay off some of its staff.

“Regretfully, you are among the employees whom Tusker Mattresses Limited can no-longer continue to offer employment and will terminate your employment contract with effect from March 19, 2020, on account of redundancy,” reads one of the letters.

While the supermarket’s financial position remains private as a non-listed company, Tuskys has hinted at a review of its internal structure as it seeks to incorporate a strategic investor to guide it into a possible public listing in the near term.

“The first thing would be to improve our internal governance structure. We would need to ensure that our structure can withstand public scrutiny upon listing. Our goal would be to present a well-capitalized company to investors as we wouldn’t want to be confronted by the suggestion that we are only listing for money,” Tusker Mattresses Limited Dan Githua boss said.

Post a Comment

What is your say on this

Previous Post Next Post