Do You Know How Many People Lost Their Jobs in 2014?

An article I saw on a technology blog this morning stated rumours of plans by MTN South Africa to cut jobs and it got me thinking – just how much jobs are cut in Nigeria annually or at least this year or last year?

Lots of jobs are lost in the informal sector but obviously our focus is on the formal sector. It is always difficult, especially in a country like Nigeria with very little employment data and statistics, to ascertain the rate of job losses. A lot of private companies lay off staff and that definitely cannot be captured officially in the unemployment or job loss numbers.

So most times it is when the big firms and organisations lay off staff that the rest of Nigerians get to worry about the decline in jobs. And then after a couple of days everybody moves on.

Job Losses were more prominent in the power/electricity (the privatisation and all), banking/financials, telecommunications, construction sectors.

Periodically you read in the news of how company A is planning massive employee cuts (this always means cutting jobs by the thousands or at least in hundreds). We decided to search around a bit and show you just a glimpse of some job cuts that happened through the year. Note that these are just a few of the total job losses that occurred in 2014.

If you have lost your job this could help

This won’t look funny, I can assure you!

Unity Bank – 170

In 2014 Unity Bank announced the disengagement of 170 staff as part of what it called efforts to reposition for effective service delivery. They also announced hiring 300 new workers mostly entry level.

MTN Nigeria – 252

In a report by Punch MTN Nigeria sacked 252 engineers citing dwindling revenue as a major factor. The company had earlier in March explained that it and other operators were facing the challenge of not only stagnating revenues, but also increasing operating expenses. After this decision MTN signed a managed service contract with global telecommunication solutions providers Huawei and Ericsson who agreed to absorb 232 out of the 252 sacked engineers. What happened to the remaining 20 was unclear as MTN stated they may have decided not to join Ericsson or Huawei or did not meet requirements.

Access Bank – 1,110

After the deal folding Intercontinental Bank into Access Bank it was inevitable that some people were going to lose their job. What many may have not thought was the number of those thta would be cut lose.

About 1,110 workers lost their jobs in January 2014 as a result.

Ecobank – 1,850

Ecobank also cut some employees off their job early 2014 while trying to keep the business afloat and moving.

See: How to Prepare for an Impending Job Termination (You always should be ready for the worst don’t you?)

Top 10 Construction Companies – Over 20,000

A report looking into the effect of the poor economy on construction companies found that the top 10 construction companies in Nigeria which accounted for about 70,000 jobs had shed one third of their workforce. This amounts to more than 20,000 job losses.

This was attributed to the government owing contractors massive sums, frozen projects, lack of funds and dwindling revenue.

Zenith Bank – 240

With reports claiming higher casualties Zenith Bank let go many of its senior staff in a drive to cut down on top management costs.

Mobil Producing Nigeria (MPN) Unlimited – 238

238 contract staff of Mobil Producing Nigeria at Ibeno got relieved of their jobs.

Chevron Nigeria Ltd – 154

Etisalat – 2,000

Nigerian Civil Aviation Authority (NCAA) – 187

187 staff of NCCA were sacked due to non-compliance with laid down procedures for employment

Nigerian Aviation Handling Company (NAHCO) Aviance Plc – 15

Redeemers University – 100

RUN sacked about 100 staff including lecturers to reduce operational cost.

Sources: Premium Times
Daily Independent

Do you want to know when companies you like are hiring? Join Ngcareers and get up to date information on opportunities that may interest you.

PS: People get fired or lose their jobs for a lot of reasons. Some of these reasons are genuine like dwindling revenue for the company, company bankruptcy, poor performance etc. However some reasons why people are relieved of their jobs are plain crazy and outright hilarious. Want to see some of the craziest reasons why people got fired?


  1. Chima says:

    It’s saddening that while we are clamouring for more jobs in the country, people are losing the one they have. I think the dwindling oil revenue is the major cause. God help us all.

    • Emeka Muoka says:

      It’s not the dwindling oil revenue or the dwindling of any other thing. It’s structural. The world as we know it has changed. For those who don’t recognize that fact, it will be the worst of times. For those who do, it will be the best of times. The old economy is gone. The world is experiencing what I call ‘Structural Unemployment’ where human efforts are replaced by machines’ and the jobs are not coming back. They’re gone. The exponential rise of technology shows that we must create our own jobs if we must thrive in the new economy. However, I have a way we all can survive. Here’s my email, [email protected]
      Let’s discuss the future people.

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