Economic Recession: Unity Bank Plc Sacks 215 Of Its Employees

Unity Bank Plc, yesterday being 14th September, 2016 sacked more than 215 of its employees. It was gathered that the workers were sacked for their inability to cope with the new ideas and strategy of the institution which is part of its re-engineering strategy for greater performance. We all know that is a lie in the first place.

The source close to the bank said:

” 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.”

Industry source asserted that the exercise carried out by the bank was part of the hard choices that prosperous minded organisations desiring optimum performance had to take from time to time to enable it deliver.

Editor's Note: This is like one of those moments in football that the coach have run-ins of negative results and the board decides to sack him but come out in the media to say they left on mutual consent. Who are you guys fooling. This is economic recession in play and they (Unity Bank) doesn't want to incure the akin of the government by coming out with the truth.