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Heritage Bank has embarked on mass retrenchment of its
workers with 400 staff sacked in December.
The News Agency of Nigeria (NAN) reports that more
workers are penciled for sack.
The bank acquired Enterprise Bank with about N56 billion
($281 million) in October 2014.
A top management staff in the bank told NAN that the sack
cuts across the top, middle and low cadres.
He said the mass sack was creating apprehension and fears
among the remaining staff.
The management staff said the remaining workers,
especially those from the former Enterprise Bank, feared they could be disengaged anytime.
He said workers from the former Enterprise Bank were the
most affected in the ongoing restructuring exercise designed to improve the bank’s profitability.
The bank’s Head of Corporate Communications, Mr. Fela
Ibidapo, told NAN that the figures were not correct.
Ibidapo noted that the development was not limited to the
bank, saying it cut across the industry.
-THE NATION
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