Days After Donating N1billion To FG, Access Bank To Lay Off 75% Of Staff, Cut Salaries By 40%

Access Bank MD, Wigwe

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Few weeks after donating a billion naira to the Federal government of Nigeria, Access Bank has made plans to lay off 75 percent of his staff strength and also cut salaries by 40 percent. The bank is letting go 75% of its workers of mostly outsourced staff such as cleaners, security guards, tellers etc. since it won’t have all its branches in operation for now.  Also, people that work in non-essential services are affected.

The MD of the bank, Mr. Herbert Wigwe made this known in a leak video that surfaced online yesterday.

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The reductions are expected to start from May unless business conditions improve, said the people, who were briefed on the matter during a conference call and asked not to be identified because they’re not authorized to speak publicly. Some management will get as much as a 40% decrease, they said.

Lest we forget, Access Bank Plc recorded a profit after tax of N40.9 billion in the Q1 2020.

 

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