253 workers laid off after closure of 5 outlets; TajMall, Embu, Eldoret Sugarland, Nakuru, Kisii.
@Okiya Njoo na inside story.
Kipng’etich committed career suicide leaving Ekwitty for Uchumi… should just be sold off rather than pumping more money down another drain - read corrupt redeemer
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wawawawah,hii ni noma sasa
Hii ni sad wasee
Not all gloom and doom mblos my consortium is currently in talks with Uchumi to take over the stores and employ those workers …keep it here for further updates…
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waaaaaah …where will i park my car when in eldoret …that uchumi parking was the most safe n free parking around town
Tumia ya nakumatt.
nakumatt has limited parking these days, not hidden and definitely not central enough
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[ol]
[li]TajMall [/li][li]Embu, [/li][li]Eldoret [/li][li]Sugarland [/li][li]Nakuru [/li][li]Kisii[/li][/ol]
253 people lose jobs , parking discussions commence.
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Embu ni muguka tu wanajua kununua
Good thing for Uchumi. For a manager, the most important thing is for the business to make money. If your branch has been making losses year-in-year-out, the only sensible thing is to close it down! That saves the business unnecessary fixed expenses (salary, rent, electricity, water, and so forth) and at the same time gives you time to reorganize.
embu kuna supermarket zingine kama nne na hazijafunga milango. uchumi wako na ufala ya kuwa overpriced
same to kenya airways, mumias government cannot do business
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my exact sentiments
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Sina any info. Nasoma sahii about the closed branches.
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I believe Kipngetich can turnaround uchumi given more time. To me, It wasn’t a career suicide. Kenya Commercial Bank was in the same situation some years ago.
Gareth George was Barclays Bank CEO. He accepted the challenge of heading KCB that was reporting losses year after year. After Gareth, came in Terry Davidson . He was citibank CEO. Martin Oduor Otieno, who was finance director at barclays kenya and a director at Barclays Africa joined KCB as deputy CEO in 2005. In 2005, KCB was a dwarf compared to barclays.
The common thread with these 3 men is they left better, stable and promising jobs with global financial institutions to join a local bank.
Today, you would be committing one of the greatest sin if you praise KCB without giving credit to this three men. Gareth George shook up the bank. Terry Davidson stabilized it. And Martin Oduor grew it. Today, KCB is a giant thanks to these 3 men who committed “career suicide”
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All very good points, but you can not compare Uchumi to KCB. The banking sector is highly regulated unlike the retail sector where the players drive the sector. KCB’s main woes stepped from issuing huge unsecured loan amounts to politically connected individuals which became bad debts but still had the goodwill of many Kenyans, companies and government agencies which is not the case with Uchumi.
Uchumi is too far gone and the sector is already too crowded with nimble and more innovative players who are willing to bend any rules to break even and realize profit and the customers patronage is mainly driven by till prices. So many factors are against the tide and I think Kenyans are also fatigued of being called upon to rescue the outfit every time the management misbehaves.
Uchumi, KQ, Mumias are not too big to fail
these not this.
Uchumi doesn’t need government bailout. Its needs restructuring. Any branch that is a cost center and there are no signs of it turning around to a profit centre needs to be closed. I believe that’s why Kipngetich and his management decided to close the 5:branches and UG.
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