Breaking
News: Unity Bank sacks 215 workers in repositioning strategy
Unity
Bank Plc, yesterday sacked not less than 215 of its employees as part of its
reengineering strategy for greater performance. According to information
gathered from sources close to the bank, the workers were sacked for their
inability to cope with the new ideas and strategy of the institution.
The
bank is said to have made significant strides in its repositioning drive with
the attraction of specialist skills to its workforce since the relocation of
its head office from Abuja to Lagos in sync with its plan to grow market share
in viable clusters of the retail market. A source close to the bank said the
new focus of the bank’s business has led to significant enhancement of human
capital in its various business units.
This
is with a view to injecting fresh ideas, initiatives and energies to strengthen
the various departments of the bank with capabilities to pursue the attainment
of strategic business focus in the Agricultural financing, retail/SMEs and
development of rural economy. According to the source ” About 200 new hires
were said to have been recruited by the Bank to drive the transformation
initiative began by the Management in the last one year while about 100 other
staff were said to have been promoted recently. Meanwhile, 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.”
Commenting
on this development, industry source asserted that the exercise carried out by
the bank was part of the hard choices that forward-looking organisations
desiring optimum performance had to take from time to time to enable it deliver
consistently on shareholders expectations.
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