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Mass Purge at Odu'a Firm From Ademola Adeyemo in Ibadan The gale of retrenchment at the Odua Investment Company Ibadan continued yesterday as 30 senior managers of the conglomerate. Last month, the Group Managing Director Sir Remi Omotoso and his deputy S.O. Oni proceeded on a compulsory leave while the Chairman of the Board of Director Chief Kola Bajomo was said to have resigned. Sources at the company told THISDAY yesterday that the retrenchment exercise was aimed at repositioning the conglomerate to meet the present economic and investment challenges. The company in the letter of termination of appointments signed by the Acting Group Managing Director Mr Matthew Olajide Ikumoluyi directed all affected managers to submit all company properties in their possession to the General manager Human Resources with immediate effect as their services were no longer required. The letter also indicated that the affected persons would receive three months salary in lieu of notice. Although the Senior Manager Public Affairs of the company Chief Lekan Alabi was not around yesterday to comment on the incident, but some of the affected staff alleged political victimisation by the Board of Directors. "Some of us who were employed by the past AD-controlled governments were affected, I mean those of us employed between 1999 and year 2003, we were just sacrificed for the management's inability to uphold financial prudence," said a source. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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