Job Losses Extends To Expatriates in Multinationals

The wind of redundancy sweeping across the labour force in the country has affected expatriates employed in multinational companies, investigations have revealed.

It was learnt that most of the affected expats, who were majorly citizens of India, China, the United Kingdom and the United States, were employed in the food and beverage sector as well as the oil and gas sector.


According to sources, while some of the expatriates have been disengaged, others have simply been redeployed to the home countries or other nations where the companies are in operation.

As a cost-cutting measure, many employers have embarked on massive sacking of workers, a move which labour unions have vehemently opposed.

Findings revealed that many employers that could not sack their workers resorted to slashing of salaries and/or allowances.

The drop in oil prices and the country’s output has affected Nigeria, whose revenue generation is 90 per cent dependent on oil, adversely impacting its foreign exchange inflow. The scarcity of forex to import raw materials has caused many manufacturers to record low capacity utilisation and reduce their workforce.

Edited from Punch