Coscharis Group, one of the leading car distribution and merchandise company has retrenched at least 208 people from it workforce.
Source at the company said the company has issued retrenchment letters to all affected. The sack affected staff across every subsidiaries of the group.
The General Manager, Marketing, Coscharis Group, Abiona Babarinde, has declined to comment on the matter.
Coscharis was founded by Cosmas Maduka is the founder, President/CEO of Coscharis Group.
He started Coscharis Motors as a one-man business and over the years has transformed the organization into an indigenous conglomerate with diverse interest in Manufacturing, ICT, Petrochemical, Auto care and Auto Components, Automobile Sales and Services, Agric and Agro Allied business sectors of the Nigerian economy.
Content on this site, including news, quotes, data and other information, is sourced by PageOne.ng from official and public sources and other third party content providers for your personal information only, and is not intended for trading purposes. Content on this site is not appropriate for the purposes of making a decision to carry out a transaction or trade. Nor does it provide any form of advice (investment, tax, legal) amounting to investment advice, or make any recommendations regarding particular financial instruments, investments or products.