G4S Kenya has announced that it will be laying off 400 employees due to challenging economic conditions. The private security company, which is part of the global security services firm G4S, attributed the decision to increased operational costs and reduced demand for services, as businesses across sectors tighten budgets amid a tough economic climate.
The company, which provides a range of services including cash-in-transit, guarding, and alarm response, has felt the impact of reduced client spending, which has affected its revenue and profitability. Inflationary pressures, rising costs, and a constrained business environment in Kenya have also been contributing factors. In an official statement, G4S Kenya emphasized that the layoffs are part of a restructuring effort aimed at ensuring long-term viability and competitiveness in the market.
This decision aligns with a broader trend across many Kenyan companies, which are facing the dual challenge of rising operational costs and lower-than-expected business growth. While the layoffs will primarily impact administrative and operational roles, the company has stated it will offer support to affected employees during the transition.
The news has raised concerns among labor unions, which are calling for intervention to mitigate job losses amid an already high unemployment rate.
