Heritage
Bank has embarked on mass retrenchment of its workers with 400 staff sacked in
December.
Investigations
by the News Agency of Nigeria, NAN, on Monday indicated that more workers are
pencilled for sack.
NAN
reports that the bank, in October 2014, acquired Enterprise Bank with about N56
billion ($281 million).
A top
management source in the bank, who pleaded anonymity, said that the sack cut
across the top, middle and low cadres.
He said
that the mass sack was creating apprehension and fears among the remaining
workers.
The source
said that the remaining workers, especially workers from the former Enterprise
Bank, feared they could be disengaged anytime.
He said
that workers from the former Enterprise Bank were the most affected in the
ongoing restructuring exercise embarked on to improve the bank’s profitability.
The bank
embarked on the massive sack in spite of the Minister of Labour, Chris Ngige’s
directive to financial institutions to desist from the sacking spree.
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