LAGOS – OVH Energy Marketing Limited, a licensee of the Oando retail brand has announced the sack of 70 staff from its employment on account of financial challenges within the downstream oil sector.
But there are speculations that the number of staff laid off by the company may be more than what it announced.
The company in a statement said the severance exercise was not a decision made on an impulse, adding that the sack of 70 staff members was done after extensive discussions for over eight months at the local, zonal and national levels of the relevant unions.
It added that the severance package realised from these conversations were acceptable and signed by all parties before the implementation of the exercise.
The company said it 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.
“In addition, OVH Energy introduced a voluntary exit package for those who were not affected by the severance exercise, but wished to move ahead to other ventures. It is important to state that all those affected by this exercise went through an outplacement programme which got them ready for life outside OVH Energy – this included financial planning, health management and entrepreneurship.
“At OVH Energy, the interest, well-being and welfare of our employees are of uttermost importance. OVH Energy remains committed to sustaining a diverse, safe and respectful work environment just as it strives to optimize products and services offered to the market, while making sure the supporting processes and organisations are in line with that objective.
“Any further organisational change within our organisation will always happen in consultation and agreement with relevant union, stakeholders and every party involved,” it added.