Nigerian Food and Beverages Industry Set to Sack 3million Workers Over Forex Crisis
Category: Business News
Leaders of the Food, Beverage and Tobacco Senior Staff Association, FOBTOB, have alleged that employers of Labor in their sector are planning to sack 3 million workers as most of the companies are finding it hard to get foreign exchange to use in purchasing raw materials for production.
According to Vanguard, President of the association, Quadri Olaleye, spoke at a press briefing in Lagos yesterday March 23rd, where he said that between 2012 and the first half of 2015, over 3,000 workers were sacked in the guise of re-engineering, restructuring, right sizing, downsizing, redundancy and re-organisation.
He said many of the companies gave the same reasons of difficult business terrain, dwindling profit, irregular and insufficient power supply
“The current situation has reached a pathetic level, because it seems all the employers in our sector are in competition with each other on who can lay off the most workers. Every company is now calling for a downsizing of the workforce, and this time under the guise of lack of foreign exchange due to the Federal Government’s recent policy on foreign exchange. We are aware that not all the raw materials used in our industry can be sourced locally. Where they can be found, they are mostly not available in commercial quantity. That is why it is imperative that the government, through the Central Bank of Nigeria, CBN, takes a second look at the policy on foreign exchange to avoid shutting down the companies in our industry.”he said
Related Posts via Categories:
- Diamond Bank Marketer Who Fled With Customers N309,000 Deposit Arrested
- Skye Bank Debunks EFCC Investigation Report – Official
- Ecobank Sacks 50 Management Staff
- 'I Can Bring Dollar Down to N200 in One month' - Ifeanyi Ubah
- Attend The Social Media Jury at Social Media Week 2016
- Naira falls to N345/$ in parallel market
- BDC operators import dollars from Ghana, Benin Rep and other countries
- Photos From Linda Ikeji's Housewarming Party
- Dangote Cuts Cement Price By N300 Per Bag Youtube Blogger Buys $1.5m Mansion From Her Blogging Money
- Nigerian Man, Adebayo Ogunlesi Acquires The London Gatwick Airport (PHOTOS)
Send stories for publishing to admin@ackcity.net
Be Our Fan On Facebook
Follow Us @ACKCITY On Twitter
Want updates via;
BB: 568235DD
Channel Pin: C00352CD2,
WhatsApp: (234) 08105649346
Need a good platform to Advertise your products & services;
Call: (234) 08105649346, 08121807240
E-mail: admin@ackcity.net
No comments