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News EAPCC ‘un-sacks’ staff in bizarre turnaround

EAPCC ‘un-sacks’ staff in bizarre turnaround

Written by Global Cement staff 12 August 2019
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Kenya: East Africa Portland Cement Company (EAPCC) has withdrawn a restructuring and staff rationalisation notice that it had earlier issued. The firm had sought to declare 800 employees redundant, with the aim of trimming its bloated wage bill.

“A replacement notice about the intended company restructuring and staff rationalisation, shall be circulated, in due course,” stated EAPCC’s acting managing director Stephen Nthei.
EAPCC is stuck in negative working capital with obligations maturing within the next 12 months outstripping current assets by US$71m. This potentially makes it difficult to service its short-term obligations.

Last modified on 14 August 2019
Published in Global Cement News
Tagged under
  • Kenya
  • East Africa Portland Cement
  • Staff
  • GCW418
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