Federal Government Orders Sack of 20,000 PHCN Workers

The Federal Government has ordered the retrenchment of no fewer than 20,000 workers of the Power Holding Company of Nigeria, PHCN, ahead of takeover by successful bidders of its assets.

The Bureau for Public Enterprises, BPE, issued the directive to the Chief Executive Officers, CEOs, of the 18 successor companies to PHCN at a meeting in Abuja, to compile names and drastically reduce the 50,000 strong workforce before the new investors take over.
It was gathered that new investors demanded that the workforce must be pruned before government hands off.-Vanguardngr