Joy Business has learnt a number of major companies are contemplating a series of lay-offs over what they say has been a deterioration of the economic environment in which they operate. Joy Business sources say broad consultations have already begun between managers of the various companies and labor for prior agreement on the framework for the redeployment exercises. Chief amongst the factors being blamed for the imminent widespread lay-offs are increasing overhead cost as a result of what the companies say is the relatively high level of taxation and utility tariff hikes. A number of businesses say they are having to pay more than double what they used to pay for their electricity bills. General Secretary of the Industrial and Commercial Workers Union Solomon Kotei confirmed to Joy Business a number of approaches have been made. He will however not confirm which companies are contemplating the mass lay-offs. He said information received was confidential and that the union will disclose details who are being laid off by which companies when the lay-offs do occur. The companies said to be contemplating the action include at least one major bank, a major soft drink manufacturer, about the biggest publishing company and a brewery. Mr. Kotei is urging government intervention to rectify what he describes a very disturbing trend. When contacted, an executive of the Ghana Employers Association denied knowledge of any such concern. Source: Joy News/Ghana