#MayDay gift: Visaphone, Stanbic IBTC sack over 300 workers?


by Akan Ido

Nigeria’s unemployment woes just grew worse yesterday as Visaphone, a telecommunications company and Stanbic IBTC, a major player in the Nigerian banking industry reportedly laid-off several employees.

According to the blogger Linda Ikeji Stanbic IBTC was said to have reduced its workforce by 250 employees while Visaphone reportedly sacked 60.

The bank undertook the downsizing which affected high and low cadre officers alike.

The country has struggled with the menace of unemployment and its attendant connection to youth restiveness, a situation which can only be exacerbated by such mass sacking.

We will give you more details as we get them.

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