Ecobank Plc has revealed its reason for the sacking fifty senior employees. The bank said it was forced to take the actions as a result of their failure in the performance test they conducted for the purpose of promoting them. The bank told Vanguard that the same test was used in promoting 300 others.
Read: Ecobank Sacks 50 Senior Employees
The Deputy Managing Director of the bank, Anthony Okpanachi, said the bank would continue to take such appropriate action to maintain excellence in its workforce. He maintained that the bank is an institution where high professional culture and exceptional performance, innovativeness and professionalism are recognized and rewarded.
“Our people are our precious assets who enable us maintain service quality standards, uphold customer satisfaction and enhance our brand experience.
“The sacked staff were reportedly selected through an appraisal exercise conducted using an in-house developed performance management system which uses both financial and non-financial metrics to categorize staff,” Okpanachi said.
An insider, however, said that the sack was due to the bank’s inability to pay their heavy salaries saying they earned about N40 million annually. He said some of them had spent as long as nine years on the same position and had been hindering the promotion of junior employees. He said the action has, so far, yielded good fruits for the institution as there has been a positive change in leadership.