Connect with us

Business

JSM ends operations in Nigeria, cites challenging business situation

Published

on

Jubilee Syringe Manufacturing ends operations in Nigeria, cites challenging business situation

Jubilee Syringe Manufacturing (JSM) company in Awa, Onna LGA of Akwa Ibom, has ended its operations, attributing the decision to “unforeseen circumstances affecting our business operations.”

JSM reputed to be the largest syringe manufacturing venture in Africa, was inaugurated in 2017 by former Vice President Yemi Osinbajo.

Though it had stopped production many months ago, it finally announced the end of operations on December 31, 2023, saying it had to implement temporary measures to ensure the company’s long-term sustainability.

In a memo addressed to all the workers, a copy of which was made available to journalists, stated that all positions, including yours, have been placed on temporary redundancy effective January 1, 2024.

The statement titled ‘Temporary Redundancy – Service Not Needed Till Further Notice’ said, “We trust this message finds you in good health. It is with a heavy heart that we write to you today to communicate a challenging decision that Jubilee Syringe Manufacturing (JSM) Company Limited has had to make due to unforeseen circumstances affecting our business operations.

Advertisement

“After careful consideration and a thorough evaluation of our current business situation, we regret to inform you that we must implement temporary measures to ensure the long-term sustainability of the company.”

It added, “Unfortunately, this includes placing all positions, including yours, on temporary redundancy effective January 1, 2024. We want to emphasise that this decision is not a reflection of your individual performance or dedication to the company.

“The challenging business environment we find ourselves in has compelled us to take these difficult steps.

“Please return all company belongings in your custody. Thank you for your understanding and cooperation during these challenging times.”

NAN

Advertisement
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2015 - 2024 ChronicleNG

Discover more from Chronicle.ng

Subscribe now to keep reading and get access to the full archive.

Continue reading