Most of those sacked were branch managers and senior staff. A source, said: “There were no signs that such action was contemplated before we proceeded on the Salah break. But we came in this morning (yesterday) strategising on how to go about the remaining days of the working week, when the letters dropped on the email box of the affected persons.”
They’re said to have been sacked for their inability to cope with the new ideas and strategy of the institution. The affected staff were said to have exercised the option to resign while Management has approved severance package in line with the Bank’s policy.
About 200 new hires were said to have been recruited by the Bank to drive its transformation initiative, while about 100 other staff were said to have been promoted recently.