Lagos - As two major oil companies conclude negotiations on the sale of their Nigerian assets, the future looks bleak for their work force, as the companies would have to retrench half of their workforce in order to execute their divestment programmes.
With this plan, many of the 16 000 jobs at these two companies will be slashed, reports Daily Trust.
The companies have already held discussions with local labor unions of their disengagement plans and discussions are ongoing as to how payment will be made to the affected workers.
Folusho Oginn, zonal chairman of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), said the union is shock and devastated by the news and it’s making frantic effort to ward off the mass layoff of workers in the oil sector..
Read more at Daily Trust