Audit Firm Ernst and Young Fires 42 Top Managers

By Soko Directory Team / Published June 15, 2020 | 12:44 pm

42 managers from South African-based audit firm Ernst and Young will be sent packing from the Nairobi offices based on reasons yet to be confirmed.

Sources revealed that the Firm is currently in good shape despite threats from the Covid-19 pandemic and the main motive to fire staff is still unknown. The firm is also said to have a shortage of staff in most of its regional offices.

The source who spoke to business daily argued that those affected are senior and long-serving managers and their contracts are set to end on July 2, 2020.

“We refer to the meeting held with your service line leader on 2nd June 2020 and the letter notifying you of the firm‘s decision to terminate your contract of employment on account of redundancy issued on the same date, “read a letter sent to one of the affected staff.

“You will be issued with a letter of termination of your contract of employment on that date, “ the letter read.

The affected staff members protested the decision saying it was unfair since they were not consulted. They argued that the firm should have considered giving them pay cuts as it is being done by other organizations during the Covid-19 pandemic.

“Other leaders have engaged their people, agreeing to reduce salaries by an agreed percentage until the situation stabilizes, ” one affected employee argued.

Gitahi Gachahi, the firm’s outgoing CEO argued that “This is particularly painful when there is no compelling economic reason for such drastic action.”

The firm Head of Talent said counseling services will be offered to the affected staff saying that the company understands that the difficult times will make the firing more devastating.

The firm serves top clients in the World and is currently ranked at number four globally. In East Africa, the main offices are based in Nairobi.

Ernst and Young audit firms have been of service of most big firms in Kenya including the Central Bank of Kenya, Cooperative Bank of Kenya, and Absa Bank Kenya.

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