Ecobank disengages 1,000 staff members

The wave of restructuring in the nation banking industry that has been throwing a large number of banking staff into the employment market has hit Ecobank Nigeria Limited as it on Wednesday sacked some of its staff members even as it undertaken the conversion of over 200 outsourced personnel to permanent employees.

The bank in a statement in Lagos said it was part of “its renewed drive for optimal performance”. The bank’s Managing Director, Mr Charles Kie, said in a statement that the bank realigned certain roles to ensure improved efficiency. This he said necessitated the exit of some staff whom he said were adequately compensated.

Though the bank was not specific about the number of staff members that were relieved of their jobs, a source at the bank, however, said up to 1,000 staff members might have been affected.

He said that this was also in furtherance of a market repositioning exercise designed to strengthen the bank’s business across all markets where it operates.

According to him, the Ecobank Group was on a trajectory to achieve leadership and “Ecobank Nigeria remains one of ETI’s major affiliates as well as one of Nigeria’s systemically important financial institutions.”

The conversion of 200 out-sourced staff into a permanent positions in line with its commitment “to develop and grow talent by nurturing its people”, according to the bank was also part of its drive to attract and reward talent and reposition the bank for improved efficiency.

The statement stated that the bank also implemented a merit pay increase for the top performers across all cadres in recognition of excellence.

“This is in furtherance of a market repositioning exercise designed to strengthen the bank’s business across all markets where it operates. Our focus is to improve the quality of service to our customers as well as our operational efficiency.

“We understand that people are our key asset, so we have emphasised the need to reward our best performers to re-invigorate our people while also opening up new opportunities for talented, committed people to join us as permanent employees.

“At the same time, based on our repositioning plan, we had to disengage some staff while ensuring that, in line with industry standards, they are treated fairly”, he stated.

It would be recalled that the bank in February sacked about 50 senior managers as part of measures to save cost. The top officials laid off by the bank then were general managers, deputy general managers and assistant general managers, among others.