OVH Energy Marketing Ltd, an Oando Plc licensee has just laid off about 100 workers from its headcounts.
According to the News Agency of Nigeria (NAN), close sources to the company disclosed that the lay off was done to tame the shortage in its finances as a result of poor performance fo the downstream sector.
A spokesperson for OVH Energy, Gogomary Oyet, said:
“It was done after extensive discussions for over eight months at the local, zonal and national levels of the relevant unions,” he said.
“The severance package realised from these conversations were acceptable and signed by all parties before the implementation of the exercise.”
“We have executed this exercise strictly in line with the terms of agreement which was approved and signed by all named chapters of PENGASSAN and OVH Energy Marketing’s management.”
He disclosed to NAN that the company had introduced a voluntary exit package for workers who were not affected by the severance exercise but wished to move ahead with other ventures.
“It is important to state that all those affected by this exercise went through an outplacement programme,” he explained.
“This got them ready for life outside OVH Energy which includes financial planning, health management and entrepreneurship,” he said.
In 2016, Oando Marketing Ltd, was renamed as OVH Energy Marketing Ltd.