OVH Energy Marketing Limited, a licensee of the Oando retail brand, said on Tuesday that it had sacked 70 of its employees.
The firm said in a statement that it was being speculated in some quarters that it laid off 100 staff members due to financial challenges within the downstream oil sector.
“We would like to clarify that the severance exercise at OVH Energy was not a decision made on an impulse. The decision to let go 70 staff members was done after extensive discussions for over eight months at the local, zonal and national levels of the relevant unions,” the Group Head, External Relations and Communications, OVH Energy, Dr Oyet Gogomary, said.
Gogomary said the severance package realised from the conversations were acceptable and signed by all parties before the implementation of the exercise.
She said, “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.”