This archive report was first published on 8 October 2019.
Securex Agencies to Sack Over 200 Employees Amid Economic Downturn ¶
Published on October 8, 2019
Securex Agencies, a security solutions provider, is set to sack 222 of its employees due to losses suffered in the 2018/2019 financial year.
The company declared the employees redundant due to reduced contracts with clients, which led to significant losses.
According to a notice signed by the chief operating officer, the security firm failed to secure another contract with the Two Rivers Mall and has tried to find alternative assignments without success.
"We refer to the number of last assignments through the year, a situation that has worsened as we approach the end of 2019. The losses can only be attributed to the prevailing difficult economic times prevalent in the country that have recently culminated in the loss of our Two Rivers assignment which released 222 of our security officers," the notice read.
Securex Agencies gave a one month notice to the affected staff effective Tuesday, November 5, in line with section 40 of the Employment Act.
The security guards would also receive a one month’s pay in lieu of notice and all accrued benefits.
Securex Agencies is one of the companies that has downsized in recent months due to tough economic times.
Recently, giant gaming firms Sportpesa and Betin closed shop following a protracted fight over taxes with the government.
