Recession: Unity Bank sacks 215 workers

Unity Bank Plc, has sacked not less than 215 of its employees as part of its re-engineering strategy for greater performance, Nation reports.

The workers were allegedly sacked for their inability to cope with the new ideas and strategy of the institution.

Those relieved of their jobs were, however, asked to resign while management has approved severance package in line with the bank’s policy.

Despite the claim that the development was part of Unity Bank “reengineering strategy for greater performance”, the economic situation of the country might have been a factor.

Meanwhile, some of the sacked workers have alleged injustice in the way they were relieved.

They dismissed the “reengineering strategy” reason being sold to the public by Unity Bank, insisting that the downsizing was a deliberate action to cut staff strength to reduce cost.

Diamond and Ecobank banks had earlier in the year fired over 1 200 workers according to News24.

Diamond Bank in a statement, said the sacking of the 200 workers was in line with its strategic plan to drive shareholders’ value. The statement read, “Diamond Bank recently rightsized its workforce. The rightsizing was a core strategic exercise in line with the bank’s growth objective and the will to continue the drive to optimise cost and enhance value for the shareholders at the end of the business year.

Ecobank on its part said 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”.

- News 24