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Employers May Lay Off Workers Amid Worsening Economy – NECA - Career (3) - Nairaland

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Banks Lay Off 8,584 Staff In A Year / SEPLAT To Lay Off 80% Of Their Staff. Remaining 20% To Take A 70% Pay Cut / What Is Your Opinion On Laying Off Workers (2) (3) (4)

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Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by Blessedarethepe(m): 10:36am On Feb 19
Watianoengineer:
Those shouting Peter Obi up and down as if he has magic wand what would Obi had done differently? Peter Obi that failed in Anambra is who they are comparing with a man that set the template for modern Lagos. Even if the price of cement is 50k, we will continue to pray for and support the renewed hope agenda of President Tinubu
One thing I believe he could do, is to reduce the cost of governance. Reduce the salaries and eliminate allowances paid to political officers.

1 Like

Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by AuwalYusuf812(m): 10:36am On Feb 19
Pablodreay890:
Make things red na den u go no say them dey one side they observe
am peacefully wetin
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by gaskiyamagana: 10:38am On Feb 19
Nawa4nl:

please talk about the druglord in power
India developer sighted.
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by LeeSmart: 10:41am On Feb 19
A worker of mine approached me last week Friday and said "oga with the economic situation of the country at hand, do you have any plans of laying us off or reducing our salaries?" To told him i will rather increase their salary from 40k to 60k, that was how he knelt down and started praying for me. This is someone 20yrs older than i am, felt embarrassed TBH.
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by FireUpNow(m): 10:44am On Feb 19
Renewed hope! Una Jagaban the Asiwaju of the Yoruba nation😀😀🤣
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by CharleyBright(m): 10:47am On Feb 19
Watianoengineer:
Those shouting Peter Obi up and down as if he has magic wand what would Obi had done differently? Peter Obi that failed in Anambra is who they are comparing with a man that set the template for modern Lagos. Even if the price of cement is 50k, we will continue to pray for and support the renewed hope agenda of President Tinubu

Some Yoruba youths like this one are totally useless.
Their mothers and fathers are crying and rejecting Tinubu, the foolish youths are shouting on Tinubu's mandate they will hang and fall.

1 Like

Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by Chummynoni(m): 10:52am On Feb 19
malali:
Nigeria needs more farmers not Office workers.

You want to be a Billionaire in Nigeria ?

This expensive food prices will last for atleast 3-5 years.

Start farming today and you will be rich in naira or dollar.

Everybody must eat.
some of you just talk farming as if it is that easy. Even those that summoned the courage to farm were slaughtered like goats on their farms.
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by Acidosis(m): 10:54am On Feb 19
NECA is giving Nigeria a bad image. They've turned to Obidients 🤣🤣
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by aimmoney9: 10:56am On Feb 19
stano2:
It shall never be well for INEC Chairman Mahmood Yakubu and his generation.
APC supporters will never see good thing in their lives.
The corrupt Judiciary and everyone including the past president that contributed to this mess, They will never rest well.
Pain to them now and eternal.
You said everything but omitted Tinubu.... grin grin grin grin grin grin
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by UptownVibes(m): 11:05am On Feb 19
Watianoengineer:
Those shouting Peter Obi up and down as if he has magic wand what would Obi had done differently? Peter Obi that failed in Anambra is who they are comparing with a man that set the template for modern Lagos. Even if the price of cement is 50k, we will continue to pray for and support the renewed hope agenda of President Tinubu
Did you watch what he said during their debates before elections? Obi has ideas ,but Tinubu didn't go cux he had no plans for you.. Obi would have at least minimize looting. If only you know how much Tinubu government has looted so far,you for no dey talk this rubbish. Imagine the humanitarian minister Edu wasn't exposed that day. Subsidy is back via the back door. You are still buying fuel at the same price when subsidy was removed. Where are the funds going to.. Have you sat to asked yourself? Dey there carry obi matter for head.. You think say obi dey suffer wetin u dey suffer grin
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by benardtotti(m): 11:08am On Feb 19
iwaeda:

The Director General of the Nigerian Employers Consultative Association, Adewale-Smatt Oyerinde, has raised the alarm that the country’s worsening economic problems can lead to retrenchment of workers.

This followed the continuous decline of the naira in the country which affected organisational activities.

Recently, several companies have closed up their businesses in Nigeria, citing economic challenges as a major reason.

Employers are certainly devising new ways of survival amid the worsening economy, while employees are gripped with fear as the fall in the value of the naira renders their salaries worthless.
Nigerian economy is in dependency mode
Speaking with Saturday PUNCH, NECA DG, Adewale-Smatt Oyerinde, said in this time of gross naira depreciation, employers could consider staff reduction as an option for survival.

He noted that the erosion in the strength of the naira tended to shrink the working capital of businesses and lower their volume of output.

Oyenride said, “Once businesses are constrained to lower capacity utilisation and output level due to the dissipation of their working capitals resulting from the gross depreciation in naira value, they (employers) will naturally consider all options available for survival, including staff reduction.


“A significant proportion of businesses in the country depend on imported raw materials and machines; therefore, the erosion in the naira’s value tends to shrink the working capitals of these businesses and lower their volume of output.”




https://punchng.com/employers-may-lay-off-workers-amid-worsening-economy-neca/


The best way to help manufacturers is give them dollars at subsidised rate of half the current rate , but unlike before where they had access to raw dollars , tell them to list out their dollar expenses and pay their suppliers directly, this will do 2 things ;

1. Checkmate the dollar arbitration and corruption.
2. Reduce costs for manufacturers and allow them to stay in business.
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by nairalanda1(m): 11:15am On Feb 19
Blessedarethepe:

One thing I believe he could do, is to reduce the cost of governance. Reduce the salaries and eliminate allowances paid to political officers.

Reducing cost of governance is good, but it won't make things better.

Reducing cost of governance won't change the fact that as at May 28th 2023, we had debt servicing eating up 90-100% of our income and also had an effective forex revenue of up to 4 billion dollars.

The truth is, we were in a mess. Reducing cost of governance would add a few hundred millions of dollars, when we need tens of billions of dollars.
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by Broveens42(m): 11:19am On Feb 19
Watianoengineer:
Those shouting Peter Obi up and down as if he has magic wand what would Obi had done differently? Peter Obi that failed in Anambra is who they are comparing with a man that set the template for modern Lagos. Even if the price of cement is 50k, we will continue to pray for and support the renewed hope agenda of President Tinubu

it has nothing to do with who rules Nija. it has everything to do with 1.spending billions of dollars to cover the extraordinary rendition of a UK citizen by the uk
2. spending billions on the world's most kept secret

I'll destroy nija with the truth~MNK
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by Maobichek: 11:24am On Feb 19
LeeSmart:
A worker of mine approached me last week Friday and said "oga with the economic situation of the country at hand, do you have any plans of laying us off or reducing our salaries?" To told him i will rather increase their salary from 40k to 60k, that was how he knelt down and started praying for me. This is someone 20yrs older than i am, felt embarrassed TBH.

Good morning, ppl are hungry, you may not understand but it's obvious. I pray everyday for people around me before the more they are in lack, the more burden on me. After service yesterday, at least 3 ppl approach me for help. God alone will save this country.
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by ChybuzzDD(m): 11:31am On Feb 19
slaawomirr:
Damnnn niggarrrr

No pity for Nigerians

Let's remember that the total number of Nigerians who voted for other parties is far higher than that of those that voted for the drugbag
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by ncoolsome(m): 11:31am On Feb 19
malali:
Nigeria needs more farmers not Office workers.

You want to be a Billionaire in Nigeria ?

This expensive food prices will last for atleast 3-5 years.

Start farming today and you will be rich in naira or dollar.

Everybody must eat.


What produce are u farming and where's the location of ur farm land,abi herders no dey ur area..

1 Like

Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by Splashme: 11:37am On Feb 19
Terrible
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by dbanjj1629(m): 12:07pm On Feb 19
This is not the matter of "MAY'. They have started since last year. I am a victim. Naija don cast. God help us?

1 Like

Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by herich(m): 12:51pm On Feb 19
The great tinubulation is coming
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by Klinxmanz(m): 1:20pm On Feb 19
LeeSmart:
A worker of mine approached me last week Friday and said "oga with the economic situation of the country at hand, do you have any plans of laying us off or reducing our salaries?" To told him i will rather increase their salary from 40k to 60k, that was how he knelt down and started praying for me. This is someone 20yrs older than i am, felt embarrassed TBH.
Boss no vex abeg,i fit find favour 4 ur hand?, no dey offended, God bless u!!..
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by Electrochemistry(m): 1:30pm On Feb 19
Maybe the current hardship will sharpen the electoral sense of the electorates. Hardship will continue to take the toll till voters realize that the future is of more importance than a bag of rice or 5k
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by Electrochemistry(m): 1:43pm On Feb 19
specialmati:
cool cool cool cool cool cool cool I don't just like what you people are doing make una allow the Creator and builder of Lagos according to touts and agberos union of nairaland to build Nigeria please.you elect criminal and expect to have peace of mind.how

You can say that again
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by toujurs: 2:13pm On Feb 19
Watianoengineer:
Those shouting Peter Obi up and down as if he has magic wand what would Obi had done differently? Peter Obi that failed in Anambra is who they are comparing with a man that set the template for modern Lagos. Even if the price of cement is 50k, we will continue to pray for and support the renewed hope agenda of President Tinubu
Ogun state? Look at this fool. May punish your generation with poverty.

Zombie.
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by superlanny(m): 2:18pm On Feb 19
No matter how much I hate a tribe or it’s peoples behavior, I will never lose my sense of reasoning and critical thinking, you sir have none and I can understand that not everyone has the ability or intelligence to grasp reality and communicate intelligibly. I am ashamed of you
Watianoengineer:
Those shouting Peter Obi up and down as if he has magic wand what would Obi had done differently? Peter Obi that failed in Anambra is who they are comparing with a man that set the template for modern Lagos. Even if the price of cement is 50k, we will continue to pray for and support the renewed hope agenda of President Tinubu
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by olympianares: 2:51pm On Feb 19
Electrochemistry:
Maybe the current hardship will sharpen the electoral sense of the electorates. Hardship will continue to take the toll till voters realize that the future is of more importance than a bag of rice or 5k
Unfortunately,there is no sense to sharpen anymore

They enjoy hardship
That is what makes sense to them
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by Samekaog: 3:01pm On Feb 19
Tell me one reason why price should not be hike, there is not magic in economic so far as the government and the Nigerian refuse to do the right thing the more our situation will persevere.
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by year2013: 3:17pm On Feb 19
Watianoengineer:
Those shouting Peter Obi up and down as if he has magic wand what would Obi had done differently? Peter Obi that failed in Anambra is who they are comparing with a man that set the template for modern Lagos. Even if the price of cement is 50k, we will continue to pray for and support the renewed hope agenda of President Tinubu

Shut up there.
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by ReubenE(m): 3:21pm On Feb 19
malali:


Your English is hard to read. But i will try and explain to you...Food security means making sure Nigerians have enough food to purchase at affordable prices.
Food is supply and demand, the demand has not changed people are still eating like they did 2 years ago. What has changed is the supply, In USA, They grow so much corn, they feed their cows corn. In Nigeria if you buy 100 trailers of corn today, the price of corn will go up in the whole country. Thats food insecurity. If we grow so much corn that we export to 20 other African countries, alot of people will be billionaires in dollars,If we produce so much poultry and export as frozen chicken, instead of importing it from cotonou, the economy will improve.

I agree there are issues, but Nigeria is so large if more people farm the insecurity will be reduced, [b]We need big equipment farming, tractors, huge storage facilities, silos, coop boards, commodities boards.

Again, the number of farmers in Nigeria don't have anything to do with food insecurity. The example you gave at least should have enlightened you that there's food insecurity chiefly because we lack the methods and agricultural capital (funds and machinery) to produce enough coupled with the prevailing security situation.

@bold last paragraph

You gave answer to the obvious problem but still went ahead to campaign for more farmers, more farmers with cutlass and hoe I guess.
There are more farmers in Nigeria than in the US but they grow so much corn in the US than in Nigeria. What does that tell you
The farmers we have in Nigeria are more than enough if given the right incentives.

Let me ignore the first line in your opening paragraph since it is obvious you're only trying to be disrespectful.
Re: Employers May Lay Off Workers Amid Worsening Economy – NECA by nlaurenx: 5:50pm On Feb 19
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