Restructuring Plan for NOCAL

first_imgThe Board of Directors of the National Oil Company of Liberia (NOCAL) has announced that the company has embarked on an internal re-organization exercise aimed at ensuring the survival of the entity.Addressing the company’s management and staff Friday, August 21, at a general staff meeting in Monrovia, the Chairman of the Board of Directors, Counselor Seward Cooper, explained that the continuing fall in the price of oil on the global market has caused serious fiscal difficulties for the company.He said despite the best efforts of the board and the management to put in place several austerity measures to manage the situation, the continuing crumbling oil prices have severely undermined NOCAL’s capacity to meet its operational and personnel obligations.Accordingly, he regretted that the company is left with no options other than putting in place a company-wide restructuring plan to include personnel and related administrative and operational adjustments that could significantly reduce the entity’s overhead costs.Disclosing that the management will work out the details of the plan with each staff/employee in the coming weeks, Counselor Cooper called on the NOCAL family to show understanding for the personnel reduction and re-arrangement scheme.He stressed that the restructuring and administrative adjustments will affect every layer of the company, including the Board and Management, and a new recruitment of re-employment exercise will be guided by the highest standard of transparency, with the Board having hired an external consultant to carry out the entire process.The NOCAL board chairman also emphasized that what is taking place at the company is not unique, as several State-Owned Enterprises (SOEs) in the country and usually productive sectors such as Agriculture and Mining continue to struggle to stay afloat in the face of the overall decline in global economic activities.Counselor Cooper then reminded the NOCAL staff and employees that “despite the unfortunate and unexpected situation that we at NOCAL find ourselves in now, we must nevertheless never forget that NOCAL has had some good times that have benefitted not only the NOCAL family, but the Government and people of this country as a whole.”He declared, “We are indeed very proud of what NOCAL, at the best of times, has done for our people, especially in regard to our CSR interventions in such areas as granting local and international scholarships, support to the University of Liberia, capacity building for our young people, public transportation, the efforts to beat back the Ebola virus, water and sanitation, among others.”He then appealed to the workforce that despite “these hard times that have hit us, we must all now come together to stand as one family to deal with the situation in a way that can help our sector and country move forward.”He then thanked the management and staff for the quality level of productivity each and every one of them has rendered to NOCAL and by extension to the country and encouraged those employees who wish to continue to work at a restructured NOCAL not to hesitate to apply for positions that will be advertised in due course.Following a question and answer period, during which employees sought clarification on the re-organization plan, some staff expressed thanks to the board and management for the briefing, saying they look forward to timely receiving their severance packages, a press release from NOCAL said yesterday.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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De Ligt makes transfer decision amid Man United, Barcelona and Juventus interest

first_imgIn-demand Ajax defender Matthijs de Ligt has decided to join Juventus, according to reports.The 19-year-old has been chased by Juve, Manchester United, Barcelona and Paris Saint-Germain after starring for the Dutch champions last season. targets And Sky Italia claim De Ligt has opted to sign for the Italian giants, which will see him play alongside Cristiano Ronaldo and departing Arsenal midfielder Aaron Ramsey.The £75million-rated defender, who helped Ajax knock Juventus out of the Champions League in April, has teased a move to Turin in the past.He said: “I really like [Giorgio] Chiellini, he is very strong, one of the best ever defenders.“I also appreciate [Leonardo] Bonucci, they are two of the best centre-backs in Europe. For a young man like me, they are both two models to be inspired by. 2 Getty JIBE REVEALED Liverpool update ‘Champions Wall’ after ending 2019 as European and world champions LATEST deals “Me at Juve? It could be, but there are also other interested clubs. We’ll see at the right time.“Now, I’m focused on Ajax and my agent Mino Raiola will take care of it.” Juventus boss Maurizio Sarri will be tasked with fulfilling Matthijs de Ligt’s huge potential latest Tottenham issue immediate ban to supporter who threw cup at Kepa The biggest market value losers in 2019, including Bale and ex-Liverpool star De Ligt looked destined to join PSG after allegedly receiving a huge £340,000-a-week offer from the Ligue 1 champions.And further reports in Holland claimed De Ligt’s girlfriend, Annekee Molenaar, had been spotted house hunting in the French capital.However, the Netherlands international appears to have chosen Juventus as his next destination. LATEST FOOTBALL NEWS Matthijs de Ligt captained Ajax to an Eredivisie title last season Where every Premier League club needs to strengthen in January Lampard appears to aim dig at Mourinho for handling of Salah and De Bruyne at Chelsea Arsenal transfer news LIVE: Ndidi bid, targets named, Ozil is ‘skiving little git’ Solskjaer gives Pogba fitness update and calls him world’s best all-round midfielder 2 punished New job boost Getty Images – Getty Liverpool news live: Klopp reveals when Minamino will play and issues injury update TROPHY Former Crystal Palace and West Brom manager Pardew takes over at Dutch strugglers Man United transfer news live: Haaland ‘wants a change’, two players off in January last_img read more

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