MTN Nigeria sacks 280 long-serving workers
source: http://www.eyesoflagos.com/2017/05/mtn-nigeria-sacks-280-long-serving.html

South African telecoms firm, MTN, on Friday sacked 280 of its employees in Nigeria, in a major job cut that affected about 15% of the company’s entire Nigerian workforce.


Those affected by the move include some 200 permanent employees and about 80 contract staff across various cadres, ranging from new graduates to senior managers.

Many of those sacked spent up to 15 years with the company having joined MTN as it opened its business in Nigeria in 2001.
Our sources said affected workers were given a dismal severance of 75% of their gross monthly income multiplied by the number of years with the company.

“Given that the company is about 16 years old in Nigeria, the severance package brought pain and discontent among the affected staff,” one source said.

“With the payoff structure, senior managers with 15 years of service were left with about N15 million. Most of the staff got less than N5 million.”
MTN Nigeria recorded nearly $1 billion in profit in 2016. However, the telecoms firm was heavily fined by the Nigerian government for failing to disconnect 5.2 million unregistered subscribers.

The spokesperson for the company, Funso Aina, could not be reached for comments on Monday.

But a source familiar with the latest downsizing said 200 of those affected had earlier agreed to leave the company voluntarily.
The source said the sackings were as a result of “the changing dynamics of the telecoms industry in recent times”.

The source said the company introduced the voluntary severance scheme, VSS, to provide a window for one week in April, for persons who have served in MTN for five years and above to take up.

Those who decided to leave under the VSS were to be paid the equivalent of their three weeks gross salary for every year they worked with MTN.
“What it means is that if one worked in MTN for five years, one would be paid three weeks of their gross salaries times five,” the source said.
Eventually, all 280 staff were disengaged under the VSS and paid their benefits, the source said.

They have done well with them, no fuss, at least they can start something better on their own except the gluten mania.. Wobia wobiliki.

you can start a good business in Nigeria with 5 - 15million. Any smart worker should have built his house while working with MTN for 15years...

They are heavily compensated.Unlike Nigerian government where a civil servant who has worked for 35years will be paid #500k as gratuity. His or her monthly pension may not be paid for months,while governors who steal for 4 or 8 years in political office will be receiving #2m every month as pensions.3 brand new cars every month,free medical for him and his family and free vacation to any country of the world paid by the state.

That is the problem with all these telecommunication company. They hire and fire.
But the compensation is cool!

Love Machine:
They are heavily compensated.Unlike Nigerian government where a civil servant who has worked for 35years will be paid #500k as gratuity. His or her monthly pension may not be paid for months,while governors who steal for 4 or 8 years in political office will be receiving #2m every month as pensions.3 brand new cars every month,free medical for him and his family and free vacation to any country of the world paid by the state.

Some Nigeria Banks are worst. Keystone recently sacked some staff who had worked for 8 years under the guise of poor performance. These staff were only paid one month basic salary! Wickedness is another name for Keystone Bank Management.