{"id":8601,"date":"2020-05-28T18:54:02","date_gmt":"2020-05-28T18:54:02","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=8601"},"modified":"2020-05-28T18:54:02","modified_gmt":"2020-05-28T18:54:02","slug":"portland-cement-unveils-early-retirement-offer-to-all-employees","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/portland-cement-unveils-early-retirement-offer-to-all-employees","title":{"rendered":"Portland cement unveils early retirement offer to all employees"},"content":{"rendered":"

AfricaPress-Kenya:<\/strong> The East African Portland Cement has asked all its employees to apply for voluntary early retirement in a measure aimed at making the company adapt to the changing business environment.<\/p>\n

Kenya\u2019s cement industry has witnessed a significant decline in productivity, resulting in depressed revenues and manpower utilization leading to unprecedented job losses.<\/p>\n

Acting Managing Director Stephen Nthei, says the programme is a one-time event and will be open to all employees, and that applications shall be expected to start between May 28 and June 15.<\/p>\n

In a memo to the staff, Nthei affirms that the company will conduct the process in a humane manner.\u2018\u2019The management and the board of directors envies that this program shall support the company initiative to develop a sustainable business model in the long run for posterity,\u2019\u2019 reads part of the memo.<\/p>\n

\u2018\u2019Our primary intent is to be transparent as possible and provide our people with choices as we continue to reshape our business as a win-win approach to staff issues\u2019\u2019 he added.The oldest cement company is grappling with a Sh10.8 billion debt, with its biggest creditor being KCB Group, which it owes Sh4.5 billion.<\/p>\n

It expects to lower costs after laying off extra workforce under the ongoing staff rationalisation programme, having already laid off over 500 workers.In August last year, the firm announced plans to lay off its workers due to financial problems.In the last three years, the company\u2019s market share has also reduced drastically affecting negatively on sales and profitability.<\/p>\n

In March last year, the then Industrialisation Cabinet Secretary Peter Munya said the Government had already started laying the groundwork for the revival of the company, including the change of management and modernising its ageing plant in Athi River.<\/p>\n

He said the cement manufacturer, which had indicated that it requires at least Sh15 billion to stay afloat, has the potential to stand on its feet again if it gets the said cash injection.\u201cWe as the Government are kin on reviving EAPCC and we have carried out due diligence on the existing loopholes leading to the losses,\u2019\u2019 said the CS.<\/p>\n

He said the planned sale of the pioneer cement manufacturer\u2019s land alone would not be enough to pull it out of its current financial woes.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: The East African Portland Cement has asked all its employees to apply for voluntary early retirement in a measure aimed at making the company adapt to the changing business environment. Kenya\u2019s cement industry has witnessed a significant decline in productivity, resulting in depressed revenues and manpower utilization leading to unprecedented job losses. Acting Managing […]<\/p>\n","protected":false},"author":84,"featured_media":8596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[3853],"class_list":["post-8601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-east-african-portland-cement"],"yoast_head":"\nPortland cement unveils early retirement offer to all employees - kenya<\/title>\n<meta name=\"description\" content=\"The East African Portland Cement has asked all its employees to apply for voluntary early retirement in a measure aimed at making the company adapt to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/portland-cement-unveils-early-retirement-offer-to-all-employees\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Portland cement unveils early retirement offer to all employees\" \/>\n<meta property=\"og:description\" content=\"The East African Portland Cement has asked all its employees to apply for voluntary early retirement in a measure aimed at making the company adapt to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/portland-cement-unveils-early-retirement-offer-to-all-employees\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-28T18:54:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/05\/lalclunsl9fu8wrwd5ecfc2187ba9a.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"818\" \/>\n\t<meta property=\"og:image:height\" content=\"453\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/portland-cement-unveils-early-retirement-offer-to-all-employees#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/portland-cement-unveils-early-retirement-offer-to-all-employees\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Portland cement unveils early retirement offer to all employees\",\"datePublished\":\"2020-05-28T18:54:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/portland-cement-unveils-early-retirement-offer-to-all-employees\"},\"wordCount\":385,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/portland-cement-unveils-early-retirement-offer-to-all-employees#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/05\/lalclunsl9fu8wrwd5ecfc2187ba9a.jpg\",\"keywords\":[\"East African Portland Cement\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/portland-cement-unveils-early-retirement-offer-to-all-employees#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/portland-cement-unveils-early-retirement-offer-to-all-employees\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/portland-cement-unveils-early-retirement-offer-to-all-employees\",\"name\":\"Portland cement unveils early retirement offer to all employees - 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