Economy

Skye Bank Sacks 50 Employees Amidst Economic Recession

Published

8 years ago

November 1, 2016

One of Nigeria’s top commercial banks has parted with a number of employees with reports that it may not be unconnected to the economic crisis in Nigeria.

There are indications that about 50 staff members of Skye Bank and staff in outsource, as well as auxiliary functions, have been exited from its employment, Nigerian Tribune reports.

The sack is coming on the heels of the economic woes of Nigeria which has led to an unfavourable ground for business growth and development.

Although the numbers of the affected non-core staff were not stated since they are not direct employees of the bank, the reasons for the exit as gathered ranged from performance, disciplinary issues as well as right sizing.

Most of the affected are Staff in Outsourced Functions (SOF) comprising Tellers, Drivers and Internal security guards.

The Management of the Bank it was learnt had also approved payment of generous entitlement and severance packages to those affected as contained in their engagement letter and as agreed with the workers union.

The bank thanked the affected staff and expressed its appreciation for their work while in the employment of the organisation.

It would be recalled that part of the mandate of Skye Bank’s re-constituted Board is to run a lean and efficient organisation, control cost, aggressively recover debts owed by debtors and grow deposit liabilities and shore the liquidity position of the Bank.