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Ecobank fires 1 000 workers

02 June 2016, 14:03

Lagos - The gale of job losses being witnessed in the country due to the current economic hardship has caught up with Ecobank Nigeria, which has sacked over 1,040 of its employees.

This is coming barely a week after Diamond Bank Plc sacked over 200 members of its workforce, while FBN Holdings, the parent company of First Bank of Nigeria Limited, recently said it would prune the number of its employees by 1 000.

Investigations by our correspondents revealed that the affected staff members of Ecobank included full time and contract workers.

Top officials of the pan-African lender confirmed to our correspondents that 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 declined to comment on the number of workers who were disengaged.

However, the lender said in a statement 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.

The statement also announced the conversion of 200 out-sourced staff into a permanent positions in line with its commitment “to develop and grow talent by nurturing its people”.

It said the conversion was also part of its drive to attract and reward talent and reposition the bank for improved efficiency.

The statement stated that the bank also implemented a merit pay increase for the top performers across all cadres in recognition of excellence.

The managing director said the bank was resolute in recognising and rewarding excellence that would drive its goal of achieving exceptional performance in the industry.



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