Ecobank Nigeria Limited has sacked 1,040 of its workforce. The sack happened yesterday.
Reports say that the affected staff were those that achieved less than 40 per cent of their performance target, which have affected the lender’s overall profitability in recent years.
The downsizing, which cuts across all cadres of its workforce including junior, middle and top management positions, is happening at a time majority of banks are battling with poor profitability over harsh economic conditions and heightened business risks from the plunge
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