engineering strategy for greater performance. According to sources close to the bank, the workers were sacked for their inability to cope with the new ideas and strategy of the institution.
About 200 workers were also said to have been recruited to promote the transformation initiative by the Management while about 100 other staff were said to have been promoted .
According to the source
”About 200 new hires were said to have been recruited by the Bank to drive the transformation initiative began by the Management in the last one year while about 100 other staff were said to have been promoted recently. Meanwhile, some members of staff numbering about 215 have been allowed to go in an exercise that will enable the Bank realign its operation to pursue its long term growth strategy. However the affected staff were said to have exercised the option to resign while Management has approved severance package in line with the bank’s policy.”
Source: VANGUARD NEWS
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