Breaking: MTN Cuts Jobs in South Sudan

MTN South Sudan has just announced a series of job cuts in the country. The company will be laying off 55% of its local staff as well as 75% of its foreign staff in South Sudan.

After spinning off from Sudan, South Sudan has been oil dependent as all the major oil deposit for the two countries rest within the south. However, the rally in the global oil market has put South Sudan’s economy in a bad shape.

MTN has operations across 21 markets in Africa and the Middle East. The company’s parent company, MTN Group is on the Johannesburg Securities Exchange,JSE,South Africa.