Lagos, Nigeria – September 3, 2019
OVH Energy Marketing Ltd., licensee of the Oando retail brand is aware that there are speculations about the laying off of 100 staff members due to ‘financial challenges within the downstream oil sector’.
This is to clarify that the severance exercise at OVH Energy was not a decision made on an impulse. The decision to let go staff members was done after extensive discussions for over 8 months at the local, zonal and national levels of the relevant unions.
The severance package realized from these conversations were acceptable and signed by all parties before the implementation of the exercise. OVH Energy executed this exercise strictly in line with the terms of agreement which was approved and signed by all named chapters of PENGASSAN and OVH Energy Marketing's management.
In addition, OVH Energy introduced a voluntary exit package for those who were not affected by the severance exercise, but wished to move ahead to other ventures. It is important to state that all those affected by this exercise went through an outplacement program which got them ready for life outside OVH Energy - this included financial planning, health management and entrepreneurship.
At OVH Energy, the interest, well-being and welfare of our employees are of uttermost importance. We remain committed to sustaining a diverse, safe and respectful work environment just as we strive to optimize products and services offered to the market, while making sure the supporting processes and organizations are in line with that objective.
Any further organizational change within our organization will always happen in consultation and agreement with relevant unions, stakeholders and all parties involved.
Group Head, External Relations and Communications, OVH Energy
Dr. Oyet Gogomary
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