BREAKING NEWS, Business
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DANGOTE Group has sacked 48 members of its workforce in view of the current economic situation in the country. Affected in the exercise were 36 expatriates and 12 local staff serving in Dangote Cement Plc and Dangote Industries Limited.
Findings showed that the reason for their sack was in connection with the current high cost of running business in the country, occasioned by unavailability of foreign exchange and the unprecedented hike in exchange rate.
According to a letter signed by Aliko Dangote, president/CEO, Dangote Group, dated October 20, 2016, the group was constrained to take the ‘tough’ decision because of the present high cost of production. The letter, entitled Recent Retirement Exercise, said in part: “This year has been a very challenging one for us as a business. The unavailability of foreign exchange, coupled with an unprecedented hike in exchange rate has resulted in increased costs across the organisation.
“This called for a proper review and adjustment of our costs across board to ensure efficiency and effectiveness in the deployment of our factors of production in a bid to eliminate redundancy that we know exist, which resulted in some tough decisions which means losing staff, including some of our colleagues.”
“On Friday, October 14, 2016, we began the process of staff cutbacks as it is imperative to review our human capital deployment for required cutbacks that would ensure efficiency and eliminate redundancies in the allocation of human resources. “This first phase of this exercise involved the cutback of 36 expatriate staff across the Dangote Cement Plc and Dangote Industries Limited and 12 local staff in Dangote Industries Limited.”
Nevertheless, the group promised that it would continue to review and restructure its human capital deployment to ensure optimal allocation of skill sets and size of workforce as an international organisation. The group urged its workers to shun late coming, improper dressing and other unsavoury behaviours in the workplace.
— Oct 24, 2016 @ 14:58 GMT
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