Job losses rise to decade high as private sector output falls

A man walks along the Temple Road in Nyeri hawking his wares to eke a living. [Kibata Kihu, Standard]

Layoffs by Kenyan firms rose to the highest in about 10 years in November as companies tried to contain the cost of operations in the face of reduced demand from consumers, who are grappling with the high cost of living and reduced earnings.

A new survey further shows that formal sector companies have been reducing jobs for three months consecutively, with layoffs in November being the worst in years.