Massive Employment Layoffs the Perfect Recipe for Economic Disaster

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The federal government has appealed to private sectors to avoid mass layoffs of employees to prevent economic disaster. As massive layoffs looms in the organized private sectors in the country, the federal government steps in to seek understanding to avoid economic disaster.

The Minister of Labor and Employment, Dr. Chris Ngige, who was represented by James Ocholi at the investiture ceremony of Otis Anyaeji as the 30th President of the Nigerian Society of Engineers (NSE) in Abuja,explained that massive layoffs will deepen the unemployment situation in the country and cause serious economy consequences.

James Ocholi said “I think it is important to state that we should not lay off staff at this critical stage, because if we do, we will be creating more problems. You should try to micro-manage and retain the staff that you have now. Because no matter how much we accommodate, government alone cannot be the largest employer of labor. The largest employer of labor is, of course, the private sector.”

With the growing army of unemployed people, adding more people to the pool will inevitably cascade avalanche of economic recession.

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