Over the past 1 year, more than 17 companies have fired their employees. The latest one being G4S which will sack 400 employees. Tile & Carpet has also written a letter to employees preparing them for the exit.
Standard Group, Radio Africa and Nation Media Group have all fired their employees. Over 500 employees have already exited the three companies.
One of the major reasons for the loss of jobs is the high cost of doing business. They also cite high taxation and levies which affect their profits negatively.
In 2025, more companies are expected to fire their employees in order to remain afloat.