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Banks Plan Major Reduction of Workforce

An unknown number of deposit banks across the country may reduce their workforce by shutting unprofitable branches by the end of the year.

The bank executive informed that a considerable number of staff has already been laid off but that is still not enough.  He said many bank branches just exists without generating enough income. It also reported that most of the banks would lay off hundreds of workers between now and December.

This is coming just a day after Unity Bank Plc laid off about 300 workers. Earlier in the year, other banks like Diamond Bank, Ecobank and Skye Bank had sacked over 3,000 members of their workforce, prompting minister of labour Chris Ngige to threaten them with sanctions.

 

 

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