The Standard Group management, led by Chief Executive Officer Marion Gathoga-Mwangi, today held a meeting with former employees to discuss shared concerns and issues of mutual interest.
The meeting addressed the numerous challenges facing the company, including delays in payments owed to both current and former employees.
Ms Gathoga-Mwangi emphasised her commitment to maintaining open communication with all stakeholders and tackling the challenges stemming from the company’s difficult financial situation.
She acknowledged that the Standard Group is grappling with industry-wide disruptions that have caused declining revenues and mounting debts, including significant amounts owed by major clients such as the government.
“The Standard Group has been navigating through a difficult financial landscape for a while. Our commitment to settling dues for both former and current employees remains unwavering. However, several challenges have hampered our progress in this regard,” she said.
Gathoga-Mwangi revealed that the company has faced persistent financial hurdles over the past seven years. She noted that the company is owed billions of shillings, including Sh1.2 billion from the government, and highlighted ongoing efforts to recover these funds to meet its obligations.