Ecobank Sacks over 1,000 Workforce


There are indications that Ecobank Nigeria plc, has sacked over 1,000 of its workers across the country.

This is coming few weeks after the sacking of over 500 others.

This may not be unconnected with the current decline of growth in the nation’s economy.

Those affected are said to be both full time and contract staff.

Top officials of the bank confirmed 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 bank 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.

In line with the recognition of excellence, the bank also said it had recently implemented a merit-based pay increase for the top performers across all cadres.

The Managing Director, Ecobank, Charles Kie, was quoted as saying that converting qualified outsourced staff to permanent workers was in line with the bank’s commitment to developing and growing talent by nurturing its people along their career paths and giving them access to higher responsibilities.

Kie said, “The bank, in its renewed drive for optimal performance, has in addition realigned certain roles bank wide to ensure improved efficiency. This necessitated 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 added.


Author: News Editor

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