Ecobank fires 1040 of its staff

The management of Ecobank Nigeria has fired 1040 of its staff. A source in the bank says the job cut was initially pegged at 1400 but it was reviewed down to 1040. A statement by the bank's Managing Director, Charles Kie, states that certain jobs in the bank are being streamlined for a reduced number of people to do so as to bring about improved efficiency. The statement in part reads;

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

Diamond bank also relieved 200 of its staff of their jobs recently.