Ghana: Diamond cement fears staff lay offs

Diamond Cement is still considering its decision to lay off 50 per cent of the company’s staff over reports that it cannot sustain its operations, according to Citi Business News. Diamond cement has announced plans to reduce its staff strength by half by the end of November 2016.

“We have not started laying off any of the real staff; we are now considering the situation. If nothing changes, then we will undertake the redundancy exercise,” the General Manager for Diamond Cement, Tati Ramarao explained.

The company, among others cited high operational cost and reduced profitability as some of the reasons that have necessitated the downsizing of the human resource.  The ability of foreign companies to import cement into the country at relatively cheaper costs has made local production unproductive.

Ramarao further criticised the Trade and Industry Ministry over for failing to respond to several appeals over the alleged takeover by some foreign cement companies.

Currently, Diamond cement provides direct and indirect employment to about 1000 people. This is from the company’s operations in Aflao, Tema as well as other parts of the country.