Business News of Friday, 20 February 2015
Source: Citifmonline.com
The General Transport, Petroleum and Chemical Workers’ Union (GTPCWU) has warned that hundreds of Ghanaians working in the oil industry will be sacked in the coming weeks following the drop in the price of oil on the world market.
Oil giants across the globe including Tullow have announced plans to cut jobs by the end of the first quarter of this year in an effort to cut costs, following the dramatic fall in the price of crude oil.
According to GTPCWU, workers of companies like Baker Hughes, Halliburton and others are expected to lose their jobs.
Speaking to Citi Business News General Secretary of the General Transport, Petroleum and Chemical Workers Union, Fuseini Iddrisu, said the companies must be patient as the oil prices seem to be rising again.
“Because of this oil price downward turn, there are indications that employers want to lay off workers, we are wondering why it should be so because we believe the downward turn of the oil prices is not going to be with us for long.
However they are claiming that they cannot be operating under loss so they will lay off some workers and when there is the need for them to engage them again they will do that.”
Fuseini Iddrisu said that as per the labour law employers have the right to declare workers redundant when he feels that he has a genuine course for it. But he assured that though they have received letters from some of the companies, others have also mentioned it by word of mouth.
Meanwhile the Petroleum Commission has told Citi Business News it is yet to be notified from the affected companies on the move.
Marketing and Communications Officer at the Petroleum Commission, Edmond Nartey assures that the commission would do all it can to protect the interest of Ghanaian workers.
“These things before it would happen there have to be due processes that would have to be followed. The companies in question would have to meet with the sector minister to discuss the issues with clear road map drawn even if it has to happen because this is a boom and bust industry. So let us buy our time and if it will have to happen the right thing will be done in this case.”
Edmond Nartey said the commission would demand justification from the companies in their quest to add up to the employment figures by asking workers to go home.