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Ecobank justifies sacking 50 senior staffers

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  ’They were duly compensated’

A couple of days back, one of the strongest financial institutions in Nigeria, Ecobank reportedly sacked 50 of its top staffers, and the situation has created panic amongst other staffers of the bank because of the unknown. However, when ENCOMIUM Weekly got across to the image maker of the bank, Redline PR Agency, they justified the sack adding that it was in furtherance of a market repositioning designed to strengthen the bank’s business across all markets where it operates as contained in a statement forwarded to ENCOMIUM Weekly on Friday, February 26, 2016.

Meanwhile, a source within the bank squealed to ENCOMIUM Weekly that the recent restructuring came after a review of senior staff bench strength and industry standards.

The source further disclosed that it became necessary for the bank to realign its workforce for better efficiency in line with its best practices in the sector hence the decision to relieve some staffers off their duties.

“I think the exercise became necessary when the bank discovered that there were a lot of people that their performances were not up to standard and they needed to strengthen the business to match the standard within the sector and elsewhere in the world. The bank did not limit it to that but I learnt that all the sacked staffers were adequately compensated.”

This was however confirmed by the statement by the head, Redline Agency, Eric Eghage. According to the statement, Ecobank is said to have realized certain lapses bank wise and those who were affected by the exercise were adequately compensated.

Meanwhile, in line with the bank’s commitment to recognizing and rewarding excellence and exceptional performance, it recently promoted 300 of its staffers representing 10 percent of the bank’s employees. The promoted staffers cut across all cadre of the workforce.

“The bank did not only confirm the appointment of some staffers, it also promoted 300. Even the bank has also commenced a process of promoting qualifed non-staffers to permanent ones. This is in line with the bank’s commitment to development and growing talent by providing them with career paths that give them access to higher responsibilities.”


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