Fuel Scarcity: Massive Job Losses Loom In Telecommunications Industry
The current fuel scarcity that Nigeria is grappling with may lead to massive job cuts in the telecommunications industry.
Its been gathered that players in the sector may have lost over 10 billion Naira in revenue in the last two weeks due to fuel crisis and this may force them to suspend planned recruitment of casual and permanent workers this year.
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You see, the telecoms companies had not been doing all that well in recent years due to competition occasioned by the penetration of over-the-top services.
This saw companies like WhatsApp, Skype and Facebook offering the same services as the telecoms companies, forcing their revenues down drastically.
The economic recession that plagued Nigeria’s economy over much of last year had not also helped them and so, following the exit from recession, the telecoms companies had been planning new recruitments this year to boost their workforce and enhance revenue growth.
But a top management employee of one of the telecoms companies confided in Punch that plans of more hiring may have been suspended and instead mass sack looms.
“Having lost over 10 billion Baira in the last two weeks and with no signs that the fuel scarcity will end soon, there are strong feelers that the telecoms companies that have planned to recruit new workers from January 2018 may have to put a hold on such plans.
"Another option left to them will be to curtail the number of workers they plan to recruit,” said the employee who was not named.
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