Ecobank fires over 1000 of its staff

The management of Ecobank Nigeria has let go 1040 of its staff. A source in the bank says the employment cut was at first pegged at 1400 however it was reviewed down to 1040.  An announcement by the bank’s Managing Director, Charles Kie, states that specific occupations in the bank are being streamlined for a decreased number of individuals to do as such as to realize enhanced productivity. The statement reads;

“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.”he said
Diamond bank also relieved 200 of its staff of their jobs recently.