Heritage Bank sacks 400 staff, more expected | Nigeria News Today. Your online Nigerian Newspaper

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Heritage Bank is on a mass retrenchment of its workers, 400 of whom lost their jobs in December.


NAN said it conducted an investigation that indicated that more workers were penciled for sack.

A top management source in the bank, who pleaded anonymity, said the sack cut across the top, middle and low cadres.

He said the mass sack was creating apprehension and fear among the remaining workers

The source said workers from the former Enterprise Bank were afraid of being disengaged anytime.

The bank acquired Enterprise Bank with about N56 billion in October 2014.

It embarked on the massive sack in spite of the directive of Chris Ngige, minister of labour, to financial institutions to desist from the sacking spree.

However, Fela Ibidapo, the bank’s head of corporate communications, said the figures were incorrect.

Ibidapo said the mass sack was not limited to the bank but it cut across all operators in the industry.

There have been reports of the bank’s financial instability, but the financial institution dismissed them.

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  1. "It embarked on the massive sack in spite of the directive of Chris Ngige, minister of labour, to financial institutions to desist from the sacking spree."
    No one can stop a business organisation from laying off staff if the business risks collapsing. Ngige doesn't know the limits of authority. Is Ngige giving the banks money to pay staff? If I run a contracting company but have had no contracts for 2 years, can Ngige tell me not to lay off my staff? Ngige was talking like a militant union leader who has no clue about running a business.

    ReplyDelete
  2. Ngige is a politician and not a businessman, lol

    ReplyDelete
  3. Does he even have anything upstairs?

    ReplyDelete

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