Heritage Bank has embarked on mass retrenchment of its workers with 400 staff sacked in December.
Investigations by the News Agency of Nigeria (NAN) on Monday indicated that more workers are penciled for sack.
NAN reports that the bank, in October 2014, acquired Enterprise Bank with about N56 billion (281 million dollars).
A top management source in the bank, who pleaded anonymity, told NAN that the sack cut across the top, middle and low cadres.
He said that the mass sack was creating apprehension and fears among the remaining workers
The source said that the remaining workers, especially workers from the former Enterprise Bank, feared they could be disengaged anytime.
He said that workers from the former Enterprise Bank were the most affected in the ongoing restructuring exercise embarked on to improve the bank’s profitability.
NAN reports that the bank embarked on the massive sack in spite of the Minister of Labour, Dr Chris Ngige’s directive to financial institutions to desist from the sacking spree.
Mr Fela Ibidapo, the bank’s Head of Corporate Communications, however, told NAN that the figures were not correct.
Ibidapo said that the mass sack was not limited to the bank as it cut across all operators in the industry.
There have been media reports of the bank’s financial instability which the bank denied.
CHECK OUT THESE INTERESTING STORIES:
- Shares volume surge by 337% at NSE
- Son of Adams Oshiomhole, Cyril eyes Etsako Reps seat
- Naira Weakens Against Major Currencies
- NSE sustains growth on year end activities
- Here’s The Outcome And Decision of MMM Nigeria From Its First Meeting In 2017
- Access Bank Ghana Upgrades Mobile Banking With A New App
- WorldRemit & GTBank Team Up To Launch Money Transfer Routes in West & Central Africa
- Bitcoin continues downward slide
- Insurance, pension record 5,000 complaints at CPC
- N510bn bail-out funds: FG begins audit of State governors
- Rising Bad Loans In Banks Worries NDIC – Umaru Ibrahim
- MMM: Why we set up meeting with FG – Abuja subscribers
- Bank Job: Entry-Level Teller At Integrated Corporate Services Limited (ICSL)
- SEC warns against investment in Bitcoin, Swisscoin, others
- Chiwetalu Agu Responds to Gideon Okeke’s Rant
- Ikedi Ohakim Says Okorocha has taken Imo backward
- 2017: Atiku Will Be Forced Out Of APC, Tinubu May Be Poisoned – Prophet Omale
- Permsec who stole 45 SUV cars Is From Bayelsa state
- We Have No Case With Ibori, Says Delta State Govt.
- Presidential Inauguration: In Ghana Mahama out, Akufo-Addo in
This post was last modified on January 16, 2017 3:57 PM