Tuesday, 3 July 2012

Nigeria: First Bank Sacks 600 Staff

First Bank yesterday sacked over 600 of its workforce. This brings to 5,600 the total number of employees of various banks across the country sacked in the last three weeks.

The Daily Trust gathered that the exercise is nationwide and most affected staffs are those that have put in between 25 and 30 years. Some of the affected workers, it was learnt, were given their sacked letters yesterday morning. But First Bank's spokesman Babatunde Lasaki told Daily Trust that though the number of affected workers was not up to 600, the exercise was carried out in line with best international practices. He said some of the staff took the window of voluntary exit open by the bank to leave the bank because the bank offers special reward to those workers who decided to take the option.

Last week, Sterling Bank sacked 400 while Mainstreet Bank offloaded over 650 of its workers.

President of the Association of Senior Staff of Banks, Insurance and Financial Institutions(ASSBIFI), Comrade Olusoji Salako, expressed displeasure over the rate of sack of its members, saying 5000 of its members were retrenched in the last three weeks.

Culled from the Nigerian Daily Trust Newspaper

Banks are unfortunately making hard decisions regarding staff in order to stay open to us, their customers. Do you agree or disagree?

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