With the unstable economy situation of the country, it is definitely not a good time for most if not all the business owners in Nigeria. The economy is no doubt in a free fall which is evidently why most small and big businesses are been hugely hit by the crisis. Most companies that are still struggling to remain in business are either having their staff agreeing to take a pay cut or In some cases layoff of staff to reduce load on their payroll grids.
The News broke on Friday 26th of Aug 2016 that one of the major player in the TeleComm Sector in Nigeria Etisalat, carried out a massive shake up which include the Top hierarchy in the Business.
From the Report we have, Most of the affected staff are the Top Management staff, report also state that more layoff will follow within the next few weeks. This is certainly not a good time as the trend of staff sacking continues across all sectors. Just few months back it was the banking sector and the oil & Gas Sector carrying out the massive staff layoff.
Who knows the next sector of the economy to be affected……. God help this country.