Business Ecobank Nigeria Sacks 1,040 Workers

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LequteMan

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Ecobank Nigeria has sacked 1,040 of its employees naitonwide, a report from Today.ng says.

This is a reflection of the current economic situation in the country. Diamond bank during the week had let 200 of its workers go and , FBN, the parent company of First Bank Nigeria limited is expected to prune the number of its workers by 1,000 also.

It's believed that the 'large scale purging' affected full-time staff and contract workers of the bank.

Top officials of the pan-African lender reportedly said the initial list of those to be sacked had over 1,400, workers but was later reduced to “a little above 1,000.”

Ecobank spokespersons have declined to comment on the number of workers who were disengaged.

However, the lender in a statement announced that 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.

Ecobank Nigeria is a member of the Ecobank Group, which operates in 36 African countries. The Group employs nearly 19,000 people from 40 different countries in over 1,200 branches and offices.

The firm in 2015 posted over N40bn decline in its profit due to high impairment charges.
 

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