Ecobank Sacks 1,040, Diamond Bank 200, FBN 1000 Workers

Category: Business News

Ecobank Nigeria has sacked 1,040 of it's employees. The reason is not far from the present economic hardship in the country. Those affected included full time and contract workers.

According to various sources, the initial list of those to be sacked were over 1,400, workers but was later reduced to “a little above 1,000.”

The bank in a statement said, it had converted over 200 outsourced personnel to permanent employees as part of its drive to attract and reward talent, while also repositioning for improved efficiency.

The bank recently implemented a merit-based pay increase for the top performers across all cadres.

Also See: Ecobank Sacks 50 Management Staff

The Managing Director, Ecobank, Mr. Charles Kie, was quoted as saying that converting qualified outsourced staff to permanent workers was in line with the bank’s commitment to developing and growing talent by nurturing its people along their career paths and giving them access to higher responsibilities.

He said the bank was resolute that recognizing and rewarding excellence would drive its goal of achieving exceptional performance in the industry.

Kie said, “The bank, in its renewed drive for optimal performance, has in addition realigned certain roles bank wide to ensure improved efficiency. This necessitates the exits of some staff who were adequately compensated.

“This is in furtherance of a market repositioning exercise designed to strengthen the bank’s business across all markets where it operates.”

Also See: First Bank to Sack 1,000 Workers 

He emphasised that the ETI was on a trajectory to achieve leadership and that the Nigerian subsidiary remained one of Ecobank Transnational Incorporated’s major affiliates as well as one of the country’s systemically important financial institutions.

He said, “Our focus is to improve the quality of service to our customers as well as our operational efficiency.

“We understand that people are our key assets; so, we have emphasized the need to reward our best performers, continue to re-invigorate our people, while also opening up new opportunities for talented and committed people to join us as permanent employees. At the same time, based on our repositioning plan, we had to disengage some staff, while ensuring that, in line with industry standards, they are treated fairly.”

Also on Tuesday Diamond Bank Plc sacked over 200 members of its workforce, while FBN Holdings, the parent company of First Bank of Nigeria Limited, recently said it would prune the number of its employees by 1,000.

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