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Nearly a dozen companies have this year sent home thousands of employees in a bid to stay afloat in the competitive business environment. Yesterday, the country’s two top betting companies—SportPesa and Betin—announced they will be shutting down operations in Kenya.
They termed the current taxation regime as hostile, saying it had rendered their businesses untenable. Insurance firm Sanlam on Thursday said it will retrench employees aged over 50, while East African Portland Cement Company a few weeks ago, handed retrenchment letters to hundreds of employees in its bid to cut costs.
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