Unity Bank PLC Allegedly Sacks 215 Members of its Employees

Lots of Banks Operating in Nigeria have taken to sacking of their employee as a solution to their problems, some claim it is due to the bad economy while others claim its for their new strategy to work effectively, The latest on the list is Unity Bank PLC having been said to have sacked 215 of its employees yesterday due to their inability to cope with the new ideas and strategy of the company.

According to Vanguard Source close to the bank, about 200 new hires were said to have been recruited by the bank to promote the transformation initiative hat was initiated by the management within the past year. While about 100 other staff members were said to have been promoted recently.

The source also told Vanguard:

"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".