Dangote Sacks Workers...Things are hard sha

In a bid to remain in business, no fewer than 48 workers have been fired by Dangote Group of Companies, due to the prevailing harsh economic environment being experienced under President Muhammadu Buhari’s government.

According to investigation, those ‎affected were 36 expatriates, and 12 local staff, serving at Dangote Cement Plc, and Dangote Industries Limited.

Despite their expatriate and contributions

to the company over the years, ‎findings showed that the company relieved them of their duties, due to the current high cost of running business in the country, occasioned by unavailability of foreign exchange, and the unprecedented hike in exchange rate.

‎In a letter signed by the President/Chief Executive Officer, Dangote Group, Aliko Dangote, dated Thursday, October 20, the firm disclosed that it was constrained to take the “tough” decision, as economic factors had affected the cost of production.‎

Part of the letter Reads: “This year has been a very challenging year for us as a business.

“The unavailability of foreign exchange coupled with an unprecedented hike in the 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 redundancies 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 the 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 members in Dangote Industries Limited.”

Dangote‎ however, noted that his organisation with international operations, would continue to follow lay down rules and procedures, in its review, and restructure its human capital deployment to ensure “optimal allocation of skill sets, and size of the workforce each function requires.”

It could be recalled, that Bloomberg had in its recent report of ‘Billionaire Index’, reported that Dangote had lost $5.4 billion of his fortune this year, due to the fall in the value of the Naira, and the decision of the Central Bank of Nigeria, CBN, to ration the US Dollars, to stem huge capital outflows in the wake of Nigeria’s worst economic crisis.

Presently, Dansa Foods Nigeria Limited, which claims to be a subsidiary of Dangote Companies, has been reported to be unable to meet up with its salary obligations for 6 months, over current hash economic environment.

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