KAMPALA – Extractives firm Tullow Oil is wallowing in a cocktail of problems with job cuts announced particularly in Kenya, a market directly related to Uganda projecting its current predicament.
The Standard Newspaper of Kenya, in an expansive inquiry into the company’s affairs in its Tuesday, February 18 edition holds the company solely responsible for dashing Kenya’s oil dream.
Tullow Oil last week indicated it would lay off about 35 workers in Kenya as if continues to struggle while in Uganda, the company has already cut back on its operations and shown willingness to dispose of a huge part of its stake in the country’s oil industry.
The Daily Monitor newspaper reported last week that the action, according to analysts, has been a result of deepening financial woes, especially in Ghana.
Its Cape Town and Dublin offices are facing closure while the total workforce will be reduced by a third to 650, according to a Reuters report.