Ghana Telecom Cuts 850 Jobs

Staff at Ghana Telecom who have taken advantage of the firms recent offer for voluntary redundancy are to benefit from a customized Transition Support Programme which has been developed to help them to manage the change effectively as they seek different jobs after they leave the firm.

Around 850 jobs, out of a total workforce of 4,000 are to be cut in the voluntary program.

Last August, Vodafone completed the acquisition of a 70% stake in state-controlled fixed-line and mobile operator Ghana Telecom for US$900 million on a debt-free, cash-free basis. The Ghanaian parliament approved the sale, despite criticism from the opposition party who believe the shares are undervalued and said that the deal isn't in the national interest.

The programme, which will take the form of counselling and Training is designed to help the staff to obtain a deeper appreciation of the change to enable them make a smooth transition to a new life.

In a statement, Vodafone said that it is concerned that the staff are equipped with basic skills to plan and manage their personal finances better, with particular reference to their disengagement packages. Those desirous of setting up their own businesses will be taken through basic entrepreneurship training, while those seeking regular employment contracts elsewhere will be helped to prepare themselves for a job search to enhance their chances of securing interviews in the organisations they wish to work for.

According to estimates from the Mobile World subscriber tracker, the mobile network ended last year with just over 1.6 million subscribers - equating to a market share of around 27%.