Monday, 18 July 2016

Employees of Pilcam, owned by Cameroonian billionaire Victor Fotso, demand 11 months in arrears

Employees of the battery manufacturing company of Cameroon (Pilcam), a company owned by billionaire Victor Fotso, have just expresses their ire in the economic capital, by organising a demonstration. This was to demand the payment of eleven months in salary arrears, we learned from these hard-pressed employees.

The anger of Pilcam employees increased, we learn, with the arrival of a new manager at the head of the company. The new Managing Director, Nicky Love Matué, has apparently implemented austerity measures meant to revive the company which had already been facing important financial difficulties for several months. Therefore, the new management decided, according to the employees, to cancel all benefits previously granted to the employees.

Even though the management of Pilcam is not very forthcoming about the real situation of this previously prosperous company, we can remember that this company in the Fotso group has not stopped complaining about the inflow of counterfeit products on the Cameroonian market, as well as the counterfeiting of its products.

In 2013, to resist the competition from cheap imported batteries, Pilcam even had to lower the price of its Hellesens brand on the local market. A decision which obviously was without real consequence on the treasury and the industrial relations in the company.

Source: Business in Cameroon 

No comments:

Post a Comment