Ecobank Explains Sack of Workers

Lagos – Ecobank Nigeria on Thursday said that the recent reorganisation that affected some senior staff was designed to strengthen the bank’s business across all markets. This is contained in a statement issued by the bank and made available to the News Agency of Nigeria (NAN) in Lagos.

 

The statement said that the recent restructuring came after a review of senior staff bench strength and industry standards. It explained that it was necessary for the bank to realign its work force for better efficiency in line with best practices, adding that those who were affected by the exercise were adequately compensated.

The statement said that the bank was committed to cost efficiency and investment in key initiatives in its transactions, banking, cards and e-banking businesses. It stated that the bank would continue to simplify its operations to better serve customers to be ahead of the competition in the industry.

“The bank only recently promoted 300 staff, representing 10 per cent of the employees based on the bank’s commitment to recognising and rewarding excellence and exceptional performance,” it said. The statement said that the bank had commenced a selection process of converting qualified non-core staff to permanent staff. NAN reports that Ecobank recently sacked about 50 senior staff to reduce cost. The sack affected general managers, among others. 

(NAN)

Lagos – Ecobank Nigeria on Thursday said that the recent reorganisation that affected some senior staff was designed to strengthen the bank’s business across all markets. This is contained in a statement issued by the bank and made available to the News Agency of Nigeria (NAN) in Lagos. The statement said that the recent restructuring came after a review of senior staff bench strength and industry standards. It explained that it was necessary for the bank to realign its work force for better efficiency in line with best practices, adding that those who were affected by the exercise were adequately compensated. The statement said that the bank was committed to cost efficiency and investment in key initiatives in its transactions, banking, cards and e-banking businesses. It stated that the bank would continue to simplify its operations to better serve customers to be ahead of the competition in the industry. “The bank only recently promoted 300 staff, representing 10 per cent of the employees based on the bank’s commitment to recognising and rewarding excellence and exceptional performance,” it said. The statement said that the bank had commenced a selection process of converting qualified non-core staff to permanent staff. NAN reports that Ecobank recently sacked about 50 senior staff to reduce cost. The sack affected general managers, among others. (NAN)

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