- There are strong indications that at least 700 more staff of the Nigerian National Petroleum Corporation (NNPC) will be relieved of their posts by the Presidency and management, according to a source.
- The source further said that staff on salary grade M5, who are mostly senior managers, would likely be affected, adding that this would amount to a massive shakeup in the troubled corporation, which is being repositioned by the new management.
- Stakeholders said at the weekend, that the only solution in the restructuring is effective monitoring of the operations, which should be based on transparent processes.
- They said the original plan of the management was to pay-off such employees with at least five years of service to go, but when it realised that the computed severance package was huge , it scaled down those listed to employees with one and half years to retirement.
- Our source said the bulk of those to be affected by the next round of lay-offs would be those of the subsidiaries and that the exercise would be conducted by the new Group General Managers.
Source: Business Day