Kenya's mortgage giant HF Group announces job cuts

Frank Ireri, HF Group Managing Director

NAIROBI, KENYA: Mortgage giant HF Group on Tuesday announced job cuts in line with its recently launched digital banking strategy.

In a statement, the group says it will lay off nine per cent of its total workforce a decision that will affect both management and other staff cadres. 

Under the new organisational structure, some roles such as the finance role will be merged with those of strategy, sustainability and business performance. According to the statement, signed by HF boss Frank Ireri, the merger of the mentioned roles is in line with the group’s endeavor to embed sustainability in its core business operation strategy and governance structures.   

Commenting on the development, HF Group Managing Director, Frank Ireri said that the organisational restructuring plan seeks to foster customer centrism in decision-making, provide clarity on operational accountabilities, enhance speed to market initiatives and curb operational costs. 

Added the statement: “The key criteria in the identification of staff will be their fit in the revised organisation structures, based on their skills and experience, standard of work performance, displayed work initiative and respective competencies defined for the different roles in the new organisation design. The exercise will take effect immediately, as guided by the requisite labour laws and will affect both management and other staff cadres.”