The current downsizing of staff in the banking industry affects both full-time and contract workers.
Ecobank had earlier planned to fire 1,400 workers but later reconsidered the issue and then sacked 1,040. To this extent, the bank converted about 200 outsourced personnel to permanent staff of the organization.
“The bank, in its renewed drive for optimal performance, has in addition realigned certain roles bank wide to ensure improved efficiency,” said Charles Kie, the managing director of Ecobank.
“This necessitates the exits of some staff whom 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 added.
Last week, Diamond bank sacked over 200 staff, the parent company of First Bank, FBN Holdings, has also revealed plans to cut down its workforce by 1,000 staff.
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