Economy in crisis: Arik Air fires 300 workers
The management of Arik Air has fired 300 members of staff with immediate effect.
This was announced in a statement by the airline on Friday.
It blamed the sacking on the impact of COVID-19 pandemic.
The press statement was titled, “Arik Air management declares 300 staff redundant”.
The company explained that a redundancy package would be provided for the affected workers with the help of the aviation unions.
See Statement from Arik Air:
“Arising from the devastating impact of the COVID-19 pandemic, leading to the constrained ability of the airline to complete heavy maintenance activities and return its planes to operations, stunted revenues against increasing operational costs, the management of Arik Air (In Receivership) has declared 300 staff members redundant to its current level of operations.
“The leadership of the impacted unions has been contacted to negotiate a redundancy package for the affected staff.”
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Hmm..Oga oo! This country is in a mess
It’s a global phenomenon
It’s not economy alone, they were facing liquidation for long except that AMCON intervened, they’d have gone down.
They attributed it to covid 19 in their press statements
If my memory serves me right, AMCON had already taken over the management of Arik because if the massive loan portfolio that went awry. The aviation industry and hospitality industry deserve a government bail out of sorts in form of soft loans from CBN. Aviation is key to hospitality and vice versa. When you have shoe shiners doing the job of shoe repairers, this is what you get.