Telkom Kenya will cut 500 jobs in a restructuring exercise that will see the firm lose a third of its workforce. The move is part of the company’s turnaround strategy since UK private equity firm Helios Investment Partners bought a 60 per cent controlling stake from France Telecom in 2015. “Telkom has today issued the requisite 30-day notice to relevant authorities and company stakeholders of an intended workforce-restructuring exercise,” said the company in a statement.
“In the statutory notification to the Ministry of Labour, Telkom Kenya has indicated that it is considering declaring about 500 employees redundant.”
Since the acquisition by Helios, Telkom has made key changes in the business structure, upgrading its 4G network and base stations as well as revamping its mobile money and enterprise offerings.