Financial crisis forces BOSAI to retrench 150 workers
The Bosai Management yesterday met with the National Association of Agricultural Commercial and Industrial Employees (NAACIE) and discussed the imminent retrenchment of workers.
According to NAACIE General Secretary, Kenneth Joseph, Bosai has indicated that the company is seriously being affected by the global economic crisis and as such will soon be retrenching some 100 workers among whom would be trainee staff, casual staff and some permanent staff.
Joseph said the union is satisfied with the terms of agreement put forward by Bosai.
It was noted that the workers will be paid all their benefits. For every six weeks the workers will receive one week’s pay.
Joseph added that Bosai explained that currently the steel industry is encountering some difficulties and as such the company is forced to make the decision.
It was, however, stated that some of the workers will be on recall. The retrenchment process is expected to begin by next Monday.