Despite the directive issued by the Minister of Labour and
Employment, Dr. Chris Ngige, last Friday that banks should put on hold the
current gale of retrenchment sweeping through the banking industry, Skye Bank
Plc has laid off 175 of its staff.
In a statement issued on Monday, the bank attributed the
retrenchment of the affected staff members to their failing the bank’s
appraisal exercise held in 2015.
According to the statement a combination of factors was
taken into consideration in the annual exercise which ranged from low
productivity to disciplinary issues.
The bank also explained that the affected staff were duly
exited in line with the bank’s staff exit policy.
The staff disengagement exercise is coming 18 months after
the bank’s integration with erstwhile Mainstreet Bank, which it acquired in
October 2014.
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