Ola Energy, an oil marketing company, has revealed plans to reduce its workforce in Kenya as part of a restructuring initiative aimed at enhancing profitability and increasing its market presence over the next five years.
On Wednesday, Ola acknowledged the difficulties posed by the current operating environment, which makes it challenging to maintain existing fixed costs.
Since 2024, the company has embarked on a “rescue action plan” for its Kenyan operations, focusing on boosting sales and cutting expenses to redirect the company’s future.
This restructuring is a key component of their strategy, according to Ola.
“It is with great regret that we must proceed with a redundancy program,” the company stated, emphasizing that the process will be handled with care and in full compliance with Kenyan laws.
Ola operates over 1,200 service stations across 17 African nations, employing 1,500 individuals directly.
In 2019, the company, which had 189 employees at the time, previously reduced its workforce through a voluntary early retirement program.
Ola’s announcement adds to a growing trend of prominent companies implementing job cuts in recent months due to a challenging business climate, despite the government’s ongoing defense of Kenya’s economic situation.
Last November, Tile and Carpet Centre reported layoffs in its Athi River production department, attributing the decision to economic and production difficulties.
In a similar vein, global security firm G4S announced it would be laying off 400 employees, while the advertising agency WPP-Scangroup cut 102 jobs last May.
