Recession: Atiku Abubakar Goes On Sacking Spree - Lays Off 70% of Workers From His Gotel TV Station
Former Vice President Atiku Abubakar has approved the laying off of 70% of the staff strength of his private television organisation, TV Gotel, Oak TV can authoritatively reveal.
The affected workers, it was learnt, received letters of termination of appointment on 10th November, 2016.
A top management staff who spoke to Oak TV on condition of anonymity said the former number two citizen decided to shake off the broadcast organization due to dwindling returns on the investment, a situation further worsened by the current economic recession in the country.
It was gathered that the TV station which has its headquarters in Yola, Adamawa State has been struggling to navigate the difficult economic conditions that have befallen the nation and therefore decided to suspend its operations to re-evaluate the company’s finances.
Another staff of the company who craved anonymity expressed sadness over the development, saying he was not sure of the dozens of staff that laid off as a result of the restructuring process in the TV station.
TV Gotel was established in 2008 by Atiku Abubakar, a retired customs chief and former Nigeria’s vice president.
The television station was set up primarily to promote the business climate in Adamawa State with state of the art equipment.
TV Gotel currently transmits its programmes on Channel 36 UHF on frequency 591.25 MHZ with strong signals received all over Adamawa State and beyond.
When contacted, the Managing Director of the Station, Mr. Mohammed El-Yakub sounded indifferent about the development, saying “hiring and firing” were decisions of any entrepreneur while declining to make further comments.
Incidences of mass sack in Nigeria have been on the rise in recent times with top multinational companies, banks and insurance firms leading the line. The case of TV Gotel can not be an exception as the current economic recession is having a negative effect on businesses in the country.
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