Standard Group Unearths Ghost Workers Stealing Millions Monthly
Standard Group PLC’s new management has uncovered new information implicating a subset of employees in the monthly larceny of millions of shillings from the company.
The new committee appointed by shareholders discovered that the company was losing Ksh40 million per month to the swindle, according to sources who spoke with PoliticalPulseChat.
According to the sources, the Expenditure Committee investigating losses at Standard Group PLC discovered that terminated employees were still receiving salaries.
“It was a mysterious revelation that forced the committee to issue new directives requiring that any expenditure must go through approval processes.
“This includes both big and small expenses. Managers are not at liberty to choose how they would like to spend money,” a source stated.
In response, the Expenditure Committee suspended senior administrators in the Finance Departments and demanded a new audit.
ALSO READ: Standard Group Insider Reveals Why Radio Maisha Went Off-Air
The new audit will cover prior years up until Standard Group PLC began to incur losses.
The Expenditure Committee guaranteed that the results of the ongoing investigation would be shared with both the staff and shareholders, who will then vote on resolutions.
“At the moment, the main focus is on lifting the company from the financial ditch that it has found itself, especially following recent losses.
“It is clear that the new committee is more powerful than even the senior managers of the company. The committee does not take orders from anyone,” the source stated.
According to reports, the committee is collaborating with all departments to address the decline in advertising revenue, which is one of the most significant challenges confronting the Standard Group.
The Mombasa Road-based media company has been severely harmed by altering media consumption patterns, as more people rely on digital news channels.
Previously, Standard Group PLC stated that it was also confronting the issue of escalating operating expenses. To remain competitive, the company stated that it is investing extensively in new technologies and content.
Standard Group Unearths Ghost Workers Stealing Millions Monthly
