The gruelling economic situation may have started affecting First City Monument Bank (FCMB), with its recent sack of 150 staff, a five percent of its entire workforce of 3,000.
The affected staff laid off on January 19, were said to have been those found to have under-performed during the bank’s review of activities of its staff.
An official of the bank who spoke under anonymity said that the bank had also employed some new staff to replace some of those sacked, stressing that the development was not peculiar to FCMB, as some other banks had done same recently.
The official also attributed the sack to the economic downturn of the country due to weak prices of global commodities.
He said that it was natural that those found wanting would be eased out due to poor returns.
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