CIC Insurance Group is trimming part of its workforce through a voluntary early retirement (VER)/programme as part of a five-year (2021-2025) corporate restructuring plan seeking to bolster competitiveness, improve operational efficiency and free more resources to lift the regional financial services conglomerate to a higher growth trajectory.
The restructuring also focuses on balance sheet re-organisation, which has seen the group put up non-core assets, mainly land, on auction in order to concentrate on core business insurance and asset management.
The EastAfrican understands that under the plan the regional insurer, which is listed on the Nairobi Securities Exchange, with operations in Kenya, Uganda, South Sud…
Read the full article at: https://www.theeastafrican.co.ke/tea/business/cic-group-unroll-2m-payroll-restructuring-4430350