MTN Nigeria has sacked 200 full time and 80 contract staff as part of a restructuring exercise.
The layoff is in line with MTN’s IGNITE transformation initiative aimed at repositioning it as a player in other segments of the economy including digital payments, financial technology (FinTech) etc.
A voluntary severance scheme (VSS) was created in April with a window of one week for staff who had worked with the company for five years and above. Those who decided to leave under the scheme were to be paid the equivalent of three weeks’ gross salary for every year they worked with MTN.
200 permanent staff signified interest and last Friday, the company decided to add 80 contract staff to the list. All 280 staff were disengaged under the VSS and paid their benefits. The layoff affected staff across various cadres, ranging from new graduates to senior management staff.
The IGNITE initiative was launched in MTN South Africa and MTN Nigeria in 2016 and is expected to be rolled out to all operations in the coming years. IGNITE is about shaping the future of MTN, as a more agile, efficient, innovative and profitable Group.