Massive retrenchment as Ecobank sacks 1,040 workers

Ecobank Nigeria Limited yesterday sacked  1,040 of its workers. In a statement released yesterday, Ecobank Nigeria’s Managing Director, Charles Kie,confirmed the disengagement of some staff and the promotion of others.Part of the statement reads

“We understand that people are our key asset, 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, committed people to join us as permanent employees,” he said.“
This necessitated the exits of some staff who were adequately compensated and is in furtherance of a market repositioning exercise designed to strengthen the bank’s business across all markets where it operates

“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”.