Ghana Textile Printing (GTP) Limited, has laid off 178 workers over operational challenges.<\/p>\n
[contextly_sidebar id=”QzCt6XsLgs0eLt4F9Fumuv61sexPYKX4″]The affected staff comprises 138 permanent and 40 casual workers.<\/p>\n
The Marketing Director of GTP, Rev. Stephen Kofi Badu who disclosed this to Citi Business News<\/strong> attributed the situation to a restructuring of the company\u2019s operations to sustain its viability.<\/p>\n \u201cTwo major problems that confront us is the issue of counterfeit and the energy cost which are all affecting our bottom line operations. We needed to take certain action and part of that is to restructure. As a result, the redundancy is a consequence of the restructuring,\u201d he explained.<\/p>\n The textiles company which has had to bear the brunt of competition from pirated products, has undertaken previous redundancy exercises between 2014 and 2015.<\/p>\n But Rev. Badu tells Citi Business News<\/strong> the numbers have increased significantly this time round.<\/p>\n \u201cThe first batch was in late 2014 when about 22 of our staff were laid off; then in 2015 a few others were also laid off but the number has increased this time round because of the restructuring.\u201d<\/p>\n In addition, the company was unable to meet its target for 2016 following the impact of the high operational costs.<\/p>\n \u201cWe could not achieve our targets for the year; the year is about to end and so far, we are nowhere near our targets. We were expecting to sell at least eighteen million yards but as it stands now, we are nowhere near that,\u201d Rev. Badu opined.<\/p>\n Meanwhile GTP says it is highly hopeful of the policies of the incoming government.<\/p>\n According to the company, the new government should institute measures to reduce the high utility costs and ease out the high burden cost.<\/p>\n \u201cWe are very hopeful; we\u2019re expecting a good year ahead of us \u2026our utility bills are very high and it is killing us,\u201d the company\u2019s Marketing Director concluded.<\/p>\n –<\/p>\n By: Elvis Washington\/Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" Ghana Textile Printing (GTP) Limited, has laid off 178 workers over operational challenges. [contextly_sidebar id=”QzCt6XsLgs0eLt4F9Fumuv61sexPYKX4″]The affected staff comprises 138 permanent and 40 casual workers. The Marketing Director of GTP, Rev. Stephen Kofi Badu who disclosed this to Citi Business News attributed the situation to a restructuring of the company\u2019s operations to sustain its viability. \u201cTwo […]<\/p>\n","protected":false},"author":14,"featured_media":279111,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[32,171,11],"tags":[],"class_list":["post-279109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-local-economy","category-top-stories"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/279109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=279109"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/279109\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=279109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=279109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=279109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}