Business News of 2014-08-07

VRA allays fears of workers

The Volta River Authority (VRA) has called on workers of its subsidiary firms not to get overly agitated about reports of the effects of a scheduled restructuring of the Authority.

The restructuring is expected to be undertaken from 2015.

“We are not laying anybody off,” remarked Samuel Kwesi Fletcher, the Head of Communications of VRA.

“What is true though is that we are doing some form of restructuring,” he stated.

He said the restructuring will only be done in its subsidiary companies and will not make anybody worse off.

“People are going to still have the opportunities to stay in these companies as workers of such subsidiaries.”

There were fears that over 700 workers of the Authority will lose their jobs as a result of the exercise, which is scheduled to be undertaken in schools, hospitals and real estates affiliated to VRA.

“We feel that we can make them more profitable by commercializing them and that is exactly what we are doing. The whole idea is to create more profit, more equity rather than make people worse off.”

He said the only difference is that most employees will be weaned off services of the Authority as a result of the autonomy to be granted the subsidiaries.

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