Jubilee Syringe Manufacturing, JSM, once renowned as Africa's largest syringe venture, has officially shuttered its operations in Awa, Onna Local Government Area of Akwa Ibom.
Inaugurated in 2017 by former Vice President Yemi Osinbajo, the company attributed its closure to unforeseen circumstances impacting business operations.
Despite production grinding to a halt several months prior, JSM formalised the conclusion of its activities on December 31, 2023, implementing temporary measures to ensure the business's long-term sustainability.
In a memo released to all employees and shared with the media, the company declared that all positions were placed on temporary redundancy as of January 1, 2024.
The memo titled “Temporary Redundancy – Service Not Needed Till Further Notice” expressed the difficulty of the decision and outlined the company’s rationale for taking such steps.
"After careful consideration and a thorough evaluation of our current business situation, we regret to inform you that we must implement temporary measures to ensure the long-term sustainability of the company,” the memo read.
The company emphasised that the decision to temporarily lay off employees in all roles was a reaction to the difficult business environment that JSM was facing, not a reflection of any employee's performance or level of dedication.
Employees were asked to return all business property within their control, and the note thanked them for their cooperation and understanding during these trying circumstances.
