Recession: MTN To Layoff Staff

Lagos (THEWILL) – MTN Group, Africa’s biggest mobile phone company has said it plans to retrench about 400 of its South African staff to cut costs, according to its Temba Nyathi, a human resources executive.

South Africa has been hit with its first recession since it freed itself from the shackles of apartheid.

The company said it would cut both permanent and temporary jobs in a move it says would create a savings of between R150-R170 million rands a year.

The South African Times is reporting that the telecommunications giant plans to layoff an additional 70% of its temporary staff from December 1 2009.

South Africa’s official jobless rate currently stands at 24. 5%, up from 23.6% in the second quarter.

THEWILL was unable to confirm whether there are plans to layoff staff at MTN Nigeria.