IGI Reduces Staff Number To Meet Recapitalisation Exercise
October 24, 2019
1:45 pm
InΒ a bid to meet up with the recapitalisation target set for the insurance industry, Industrial and General Insurance (IGI) Plc has commenced its process, by slashing its operating expenses in a restructuring exercise that will allow it meet the deadline.
The insurance firm allegedly laid-off about 60 staff recently so as to reduce cost. However, this development did not go well with the affected staff as they staged a protest last week to express their grievances over the issue.
Distressed employees warned the management to rescind its decision to retrench the majority of them or face industrial action. The …
