Wema Bank Plc on Friday commenced massive retrenchment of staff on its payroll, Newsclickng.com can authoritatively report
According to an insider source who crave anonymity, those affected are over a thousand in number and spread across the bank’s branches all over the country.
The source however said retrenchment of staff was a regular exercise with the bank. He noted that while the retrenchment affected some unproductive staff, others that were due for promotion were also sacked.
“While it is true that the retrenchment exercise is carried out yearly by the bank to checkmate the number of unproductive staff to the barest minimum, however, we also have cases of people that are due for promotion that were unjustly relieved of their jobs,” the source said.
Newsclickng.com spoke with one of the affected staff in Lagos. He said the sack came as a rude shock to him and others who were affected. He said the bank cannot justify the sack action while threatening to seek redress in court if he was not duly laid off with all his entitlements.
“We were unjustly asked to go. No concrete reason was stated. In this age and time, I’m ashamed that the bank could embark on such callous acts of impunity. We were not even signaled or issued a prior warning. They can tell me its a case of not meeting up with target. My team always meet up with targets before expiration of deadlines and we were even commended at a time. I’m waiting for other affected staff on the way forward. This cannot go unchallenged. If they are going to sack me, I should be paid all my due entitlements immediately or else, I’ll approach the courts for a redress,” he said.
Efforts by Newsclickng.com to get comments/reactions from the Head, Brand and Marketing Communications of the bank was unsuccessful as at the time of filing this report.
