NAIROBI, Kenya, Jul 11 – Longhorn Publishers Limited is set to roll out its restructuring plan that will see job cuts.
The largest publishing firm in East Africa seeks to reduce its cost by Sh100 million.
Group Managing Director Simon Ngigi attributed the move to challenges affecting the publishing industry that include digital disruption, piracy, and government policies.
“We wish to assure our stakeholders and investing public that the process will be quick, fair and efficient, putting their interest at the centre of the entire exercise. We expect a smooth transition with no disruption in serving our customers” he said.
The firm has subsidiaries in Uganda, Tanzania and Rwanda and has entered into strategic agreements with partners in Senegal, DRC, Malawi, Zambia and Ethiopia.
“The organisational restructuring process which is set to conclude in August 2017 is guided by the Kenya Labour Laws and global best practices. The process will further bolster our capital base hence accelerating Longhorn Publishers future growth,” Ngigi added.
Centum Investment Company Limited is the largest shareholder of the company.