Over 500 Telkom Kenya employees have lost their jobs

Y

Yunomi

Guest
#1
All those people are being pushed out the doors in these harsh economic times. The wiser ones in that group should be able to absorb that shock because they stayed woke and never trusted the job to always be there. The unprepared ones will suffer.
It would be nice if there existed insurance plans to insure against job loss so that one can shield themselves from the economic shock of just losing a job. If you can continue receiving a salary for 6 months or a year after losing a job you can make sustainable adjustments for the family.
 

spear

Village Sponsor
#3
All those people are being pushed out the doors in these harsh economic times. The wiser ones in that group should be able to absorb that shock. The unprepared ones will suffer.
It would be nice if there existed insurance plans to insure against job loss so that one can shield themselves from the economic shock of just losing a job. If you can continue receiving a salary for 6 months or a year after losing a job you can make sustainable adjustments for the family.
There is nothing like harsh economic times in telecoms industry. That industry has been growing consistently since 2000 and breaking new grounds every 2 years. Maneno ya economic indicators should not involve emotions but figures and data. The only reason layoff and losses occurs in this industry is due to mistakes of management that drove the company to downsize courtesy of the financial hit. Telkom still hasn't completed it's takeover plans under Helios and that is now going full circle. Staff wage bill must reflect revenue streams. Safaricom profits breaks new ground every year. Why? They introduce new services and products that get mass appeal. They tweak their current services to give more and that draws in more revenue. Airtel is still in another bundle offer of all these for less since 2010 but its still not getting enough revenue.
 
Y

Yunomi

Guest
#4
There is nothing like harsh economic times in telecoms industry. That industry has been growing consistently since 2000 and breaking new grounds every 2 years. Maneno ya economic indicators should not involve emotions but figures and data. The only reason layoff and losses occurs in this industry is due to mistakes of management that drove the company to downsize courtesy of the financial hit. Telkom still hasn't completed it's takeover plans under Helios and that is now going full circle. Staff wage bill must reflect revenue streams. Safaricom profits breaks new ground every year. Why? They introduce new services and products that get mass appeal. They tweak their current services to give more and that draws in more revenue. Airtel is still in another bundle offer of all these for less since 2010 but its still not getting enough revenue.
I didn't mean harsh economic times for the telecom industry but in the general economy. I saw Stanbic Bank is looking to cut 200 jobs.
 

spear

Village Sponsor
#6
I didn't mean harsh economic times for the telecom industry but in the general economy. I saw Stanbic Bank is looking to cut 200 jobs.
I refer you to read my comment again. Banks made more money in 2018 that ever before in their history in Kenya. Explain that? That's why I say leave the economic indicators to the experts. I'm even a toddler in that category but I read what they say.

1. Banks are a cartel. They pretend they are affected by rate caps but don't disclose they agreed under their KBA cartel to deliberately slow credit to SME's. They knew when the businesses suffer, they will cry to government who will give in. It also didn't help that government borrows a lot locally. Where does mwananchi turn to? Parliament especially Moses Kuria bill which gives government and banks an excuse to get off this vicious cycle.

2. Banks spent just as much in retrenchment as paying its top management. Only Equity Bank is exempted from this. They froze new staff hiring but went big on agency banking. Those agents are in the 1000's across Kenya and each has between one or two permanent jobs positions. The end result is 70% of bank transactions are in agents and 1000's of new jobs at the agencies.

So you picked a wrong industry again

Lastly. Kenya industries died under Nyayo. Kibaki tried to revive them but not fast enough. However our concept of jobs remain white collar jobs of 8-5pm in cubicles somewhere. Those jobs started dying off worldwide since 2000 due to computers and ICT. Those jobs disappearing in CBD and town are going and will never come back. We should concentrate CBD to be leisure, service and entrepreneurs centres. China industrial revolution that started in the 90's and peaked from 2000 are blue collar factory jobs. If you can't do technical jobs then you are a fossil in the job market. Adapt or perish.
 
Last edited:

Kodiaga

Village Sponsor
#7
There is nothing like harsh economic times in telecoms industry. That industry has been growing consistently since 2000 and breaking new grounds every 2 years. Maneno ya economic indicators should not involve emotions but figures and data. The only reason layoff and losses occurs in this industry is due to mistakes of management that drove the company to downsize courtesy of the financial hit. Telkom still hasn't completed it's takeover plans under Helios and that is now going full circle. Staff wage bill must reflect revenue streams. Safaricom profits breaks new ground every year. Why? They introduce new services and products that get mass appeal. They tweak their current services to give more and that draws in more revenue. Airtel is still in another bundle offer of all these for less since 2010 but its still not getting enough revenue.
Sijasoma ile umeandika kwsababu wewe ni mijinga sana. You pretend to give some sensible economic insight yet all you do is to lick somebody's ass at the DP's office
 

Top