InCaseYouMissedIt: Ecobank just laid off over 1,000 employees

Ecobank Nigeria has reportedly sacked over 1,040 of its employees.

Punch reports that the affected staff members of Ecobank included full time and contract workers.

According to top officials of the bank, the first list of those to be sacked had over 1,400, workers but was subsequently reduced to “a little above 1,000.”

In a statement, Ecobank failed to note the fact that it had sacked over a thousand of its employees but however, said 200 outsourced personnel had been converted to permanent employees.

Managing Director, Ecobank, Charles Kie, was quoted as saying, “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. 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 emphasised 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.”

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