The logistics company on Monday, through an announcement, declared redundant positions held by 40 truck drivers and at least 21 mechanics. This is in line with a business restructuring strategy that has seen it lease its equipment and warehouses to business rival SDV Transami from April 1 this year.

The company will now pay the retrenched workers their terminal dues, which include two-month pay and one month salary for every complete year worked.

This dismissal of workers has helped tame tensions between the management and workers.

Express Kenya Limited is a listed company, with 35,403,790 shares trading on the NSE. Its 52 week range is between Ksh. 3.50 and Ksh. 6.05 per share. The share has fallen consistently from a high of Ksh. 10 per share in October 2010 to an all time low of Ksh 3.50 per share in January 2012 and currently trades at Ksh. 4.00 per share.

The logistics firm has been struggling since losing the lucrative beer distribution contract worth Ksh 2.3 billion a year with regional brewer EABL to its rival DHL in 2010. Upon losing the deal, the listed company slipped into a loss last year, reporting Ksh28 million in losses for the period ending December 31^st 2012.

Read more on Express Kenya here.