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Nairaland Forum / Nairaland / General / Travel / Arik Suspends 90% Of Workforce, Implements 80% Pay Cut (638 Views)
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Arik Suspends 90% Of Workforce, Implements 80% Pay Cut by JaffyJoe(m): 9:23am On Apr 24, 2020 |
[img][/img] Chinedu Eze Nigeria’s major carrier, Arik Air has ordered 90 per cent of its staff to proceed on leave without pay till further notice. It has also implemented 80 per cent salary cut for its personnel for the month of April. This was contained in the mail the Chief Executive Officer of the airline, Captain Roy Ilegbolu sent to the staff, where he promised that the suspension would be subject to monthly review. Ilegbolu noted the global economic crisis triggered by COVID-19 pandemic and how it has affected the world, creating uncertainty. “After careful deliberation and analyses, management has decided to implement an 80 per cent pay cut for all members of staff across the entire organisation for the month of April 2020. Furthermore, commencing from May 1st 2020, no less than 90 per cent of our staff will proceed on leave without pay until further notice. This position will be reviewed on a monthly basis and communications on further developments will be shared by our HR department as the situation evolves”. “With the current observed trend of events, it is prudent to lean on the assumption that the situation is likely to persist for a while longer.” “Of huge significance to us is that we have suffered a sharp decline of over 98 per cent in our revenue streams since the suspension of our scheduled flights almost four weeks ago. Added to this is the rapid decline in the value of the naira by over 35 per cent against the benchmark and with oil prices now falling well below $15 per barrel, it is evident that we must, without further delay, take decisive action to preserve our organisation. “Our focus as management has always been hinged on the well-being and safety of our staff, managing our liquidity as an organisation and creating the opportunity to ride out of inclement circumstances such as the one we are faced with today. Pursuant to this, recently, we reached out to our suppliers, specifically negotiating reduced rates on all our contracted services and mitigating operational expenses due to changes in demand. We also implemented contingency plans for staff and introduced operational support flexibility,” he said. The CEO however noted that notwithstanding that some of the measures taken so far have contributed to conserving “our limited resources”, he remarked that the outlook for the near future is not encouraging, adding that the airline’s current level of business simply cannot support its operations for much longer. “For this reason, to safeguard the survival of our organisation, we are constrained to introduce additional measures to curtail our costs, as dictated by the turn of events. https://www.thisdaylive.com/index.php/2020/04/24/arik-suspends-90-of-workforce-implements-80-pay-cut/
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Re: Arik Suspends 90% Of Workforce, Implements 80% Pay Cut by JAMO84: 9:32am On Apr 24, 2020 |
Private organization have the luxury of suspending staff and cutting pay by as much as 80%. Any government that does such will lose popularity and face massive industrial actions. I AM DONE TALKING 1 Like |
Re: Arik Suspends 90% Of Workforce, Implements 80% Pay Cut by Pubichairs(m): 9:33am On Apr 24, 2020 |
![]() The earlier u realize this Foolhari led administration is death sentence, .. The better!!!! Almajiris are of no use to Nigeria! |
Re: Arik Suspends 90% Of Workforce, Implements 80% Pay Cut by DigitalBrands01: 9:34am On Apr 24, 2020 |
Frankly speaking this is not the best of time for Employees around the world. Once again, my only advice for the affected persons is t tutti Q I have to factor in How you can take your businesses online to start Building your own Brand and How to take your Business to the international community to ensure your economy doesn't depend on Nigerian economic blueprint. By so doing the rise of Dollar will be your gain Anyway, I will Design a company Logo for 2k Only or Website for your Product or Company. Info below |
Re: Arik Suspends 90% Of Workforce, Implements 80% Pay Cut by EzzyCarter: 9:36am On Apr 24, 2020 |
This is probably the wrong time to be a private worker ![]() |
Re: Arik Suspends 90% Of Workforce, Implements 80% Pay Cut by Iamgrey5(m): 9:38am On Apr 24, 2020 |
Petroleum companies would start their own soon |
Re: Arik Suspends 90% Of Workforce, Implements 80% Pay Cut by Stewart883(m): 12:33pm On Apr 24, 2020 |
Very useless organization. How will the disengaged staff survive with their families ![]() |
Re: Arik Suspends 90% Of Workforce, Implements 80% Pay Cut by Glink2018(m): 12:50pm On Apr 24, 2020 |
A lot of people working in the private sector will lose their jobs...because businesses will be affected. |
Re: Arik Suspends 90% Of Workforce, Implements 80% Pay Cut by JaffyJoe(m): 2:50pm On Apr 24, 2020 |
Glink2018: True. This is a difficult time for private sector employees. |
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