Nigerian Breweries Plc, one of Nigeria's leading beverage companies, has unveiled plans for a company-wide reorganization, which will involve the temporary closure of two out of its nine breweries across the country.
The decision comes as part of the company's business recovery plan aimed at enhancing operational efficiency, ensuring financial stability, and fostering business profitability amidst the challenging economic climate. In a statement signed by Corporate Affairs Director Sade Morgan, the company emphasized its commitment to minimizing the impact on its workforce by exploring various practical options.
Measures outlined in the statement include relocating and redistributing employees to the remaining seven breweries and extending severance packages to those unavoidably affected. Letters addressed to the leadership of the National Union of Food, Beverage & Tobacco Senior Staff Association outlined the proposed plan's focus on operational efficiency initiatives and a company-wide reorganisation involving temporary brewery closures.
Managing Director/CEO of Nigerian Breweries Plc, Hans Essaadi, acknowledged the challenging business landscape characterized by inflation, currency devaluation, and consumer spending constraints. He underscored the company's dedication to consolidating operations for efficient cost management and sustainable growth while reaffirming its commitment to host communities and consumers.
