Effect of Job Loss on Employees of PW Construction Company Abuja, Nigeria

Abstract

This study examines the Effects of Job loss on employees in PW Company Ltd Abuja. The research is aimed to determine the process of job loss and the strategies to cushion the effect of affected workers. Hence, a survey design method was adopted as a means to collate data for the study. The population of the study comprised the entire 312 staff of PW Company between 2015-2020. Parametric statistics of ordinary least squares multiple regression was used to test the hypotheses in line with the objectives of the study. Questionnaires and personal interview on data for both recent and previous job loss were employed for proper analysis in this study. Findings indicate that there are lots of issues to consider before management make final decision on job loss. In addition, the manner in which the job loss is handled can reduce the effect it makes on affected employees. The study concluded that the impact of job loss on the affected employee has been measured and the discovery is very devastating. The study also recommended that, the management of PW Company Ltd Abuja need to embark on conscious assessment of the employees to know whether job loss is actually necessary before starting the process, The management of PW Company Ltd should always ensure that, employees penciled down for job loss should be notified on time, encouraged, motivated, counseled and advised professionally to enable them see the possibilities of surviving the impact and also make available their financial entitlement before rendering workers job loss redundant at their work places.