Oil marketer Ola Energy to lay off staff in latest restructuring

OLA Energy petrol station along Mombasa road on September 28, 2023. [File, Standard]

Ola Energy, the fourth largest oil marketing company, said it has commenced a restructuring of its local unit in a move that would see some of its employees declared redundant.

The firm joins the growing list of companies that are opting to send employees home in a bid to stay afloat locally, with recent industry data showing firms across different sectors have shed off more than 5,000 jobs over the last three years.