Mass Layoff looms as as company with 165 branches plans to shut down
Mass Layoff looms as as company with 165 branches plans to shut down
Several Kenyans are set to lose jobs after the Registrar of Companies announced that two more companies are set to be shut down in three months.
In a notice on the June 5 issue of the Kenya Gazette, the registrar stated that if no opposition was submitted to the authority in the next three months, the two companies would be removed from the registry of companies.
“Pursuant to section 894(3) of the Companies Act, the Registrar of Companies gives notice that the names of the companies specified hereunder shall be struck off from the register of companies at the expiry of three (3) months from the date of publication of this notice and invites any person to show cause why the companies should not be struck off from the register of companies,” the notice read.
One of the companies facing dissolution is a multinational, Caltex House Service Station Limited, a multinational oil and motor care company with over 75 years of service and 165 service stations.
According to its website, the company offered a range of high-performance lubricants and engine oils designed to ensure optimal engine performance under any driving condition.
The dissolution of this company comes just a few years after a popular Kenyan chain of filling stations announced plans to acquire its Kenyan and Ugandan entities.
In 2020, a popular Kenyan oil giant started the acquisition process of Caltex to take over its 165 Caltex service stations, one terminal, seven fuel depots, six aviation facilities and one lubricants blending plant.
The other company that is facing dissolution is also a motor care company, posing yet another blow to the motor industry workers in the country.
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This comes as Kenyans continue to grapple with a high cost of living and unemployment, as multinational companies exit Kenya over the barrage of taxes introduced over the past few years.
In 2024 alone, several companies announced their exit from the Kenyan market, primarily due to challenging economic conditions, high operational costs, and unfavourable business environments.
Among them was Procter & Gamble (P&G), an American multinational, which announced plans to lay off its 850 employees ahead of its exit from the Kenyan market in December 2024.
Base Titanium, an Australian mining company, also announced that it would exit the Kenyan market at the end of the year due to dwindling titanium resources, risking the loss of at least 1,200 jobs.
G4S Kenya and Tile and Carpet Centre also cut down on their businesses in Kenya, announcing redundancies that led to the loss of hundreds of jobs.
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