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In Nigeria Ecobank sacks 1,040 workers

Many financial analysts have attributed the development to the woes of the Nigeria economy after it emerged that Diamond Bank, also in Nigeria, dismissed 200 workers in May.

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Ecobank Nigeria has sacked 1,040 play

Ecobank Nigeria has sacked 1,040

(File Photo)

Ecobank Nigeria has sacked 1,040 workers in a move to improve efficiency.

Many financial analysts have attributed the development to the woes of the Nigeria economy after it emerged that Diamond Bank, also in Nigeria, dismissed 200 workers in May.

The management of the bank confirmed the sack in a statement, saying it was to “ensure efficiency” in its “drive for optimal performance.”

The statement, signed by the bank’s managing director, Charles Kie said the sack “is in furtherance of a market repositioning exercise designed to strengthen the bank’s business across all markets where it operates. Our focus is to improve the quality of service to our customers as well as our operational efficiency.”

“At the same time, based on our repositioning plan, we had to disengage some staff, while ensuring that, in line with industry standards, they are treated fairly,” the statement added.

The affected staff include full time and contract workers, Pulse Nigeria quoted the Punch Newspaper.

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