From the beginning of the recession saga in Nigeria, Dangote has surprisingly invested in the country beyond imagination.
Now current news says that the business mogul just fired 48 workers. It is believed that Dangote group sacked about 36 expatriates and 12 Nigerians from his conglomerate. Sources say that the sack was largely linked to the current Nigerian recession.
It appears that the economic state has undoubtedly affected the Dangote group; so much so that 4 dozens of workers have reportedly been sacked by Africa’s richest man. The victims are said to be from the Group’s headquarters and one of their subsidiaries.
To clear all speculations over the sack, the billionaire in an official letter titled Recent Retirement Exercise, blames it on the high cost of running business in Nigeria at the moment; “unavailability of foreign exchange” and the “unprecedented hike in the naira to dollar exchange rate”.
“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… 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…”
“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 replaced the expatriates with Nigerians as paying them in naira will be much more convenient.
As much as the cutback is blamed on the recession, it was also found that the sacked workers had disciplinary issues as well.
On that note the group went on to sound a note of warning for workers who are prone to late coming, improper dressing and other unsavory behaviors in the workplace.