Home BUSINESS MTN acquires Visafone, 2,000 workers laid off

MTN acquires Visafone, 2,000 workers laid off

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Africa’s largest telecom operator, MTN has taken a step forward with the completion of the acquisition of the sole surviving Code Division Multiple Access (CDMA) operator in Nigeria, owned by the banking magnate, Mr. Jim Ovia.visafone

The sealing of this deal means that CDMA has gone into extinction in Nigeria.

MTN Nigeria is yet to make an official statement, but inside sources have confirmed the development to journalists.

As part of the development, it is learned that 83% of the Visafone workforce has been laid off. As reported by Punch, 2,000 workers have been laid off.

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“We learnt that the management would downsize, but we were told that that would be later in 2016. It is, however, surprising that they are sending majority of us away so early in the year. Though they paid three months’ severance benefits, but should it be this way?,” one of the sacked workers told the newspaper.

“Some of us have put in five to 10 years of our lives in keeping the business going, but see what we are getting now. It is well.”

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