Home ECONOMY Loss-making KQ to send employees home

Loss-making KQ to send employees home

by biasharadigest

KQ Employees: Loss making national carrier Kenya Airways is set to fire employees in what has been termed as a restructuring move.

According to an internal memo directed at staff members, the national carrier will carry out the sacking in a bid to turn around its fortunes. These sacking of the KQ employees will be part of the part of Operation Pride turnaround strategy.

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“Roles will change; some maybe enriched while others are merged. I also want to be clear that as difficult as it is, some roles will disappear altogether, resulting in redundancies,” acting chief executive Allan Kilavuka said in a memo to staff.

Kenya Airways recently issued a profit warning for the year ending December. Its half year results showed that the carrier made losses of up to Sh. 8.56 billion. This was more than the full year loss it returned in the 2018 financial year.

Last year, Kenya Airways Chief Executive Officer Sebastian Mikosz left the airline on December 31. The CEO was appointed in 2017 amidst a streak of losses by the national carrier that amounted to billions of money. His signing came with hope, since he had helped turn around LOT Polish Airlines, which is the national carrier of Poland. His stay at Kenya Airways, though, has fallen short of a turn around.

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