MTN Nigeria recorded nearly $1 billion in profit in 2016
In one fell swoop, 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, multiple sources revealed to newsmen.
Many of those sacked spent up to 15 years with the company having joined MTN as it opened its business in Nigeria in 2001.
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 yesterday.