Home News & Politics COVID-19: ACCESS SACKS STAFF, CUTS SALARIES.

COVID-19: ACCESS SACKS STAFF, CUTS SALARIES.

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About 75 percent of the current staff of Access Bank Plc is going to be laid off this month and as well cut the salaries of the workers.
Herbert Wigwe, the Group Managing Director (GMD) of the Bank has said that the Bank might sack some of its staff due to the adverse effects of the covid – 19 pandemic.
GMD Wigwe while speaking during conference with some staff members of the Bank, said that some branches would not be fully operational from now till December due to the pandemic.
Those to be affected in the new development include he himself who would have largest pay cut of 40%.
“I will be the first to take the hit and I’m gonna take the largest pay cut which would be as much as 40%. The rest would have to cascade right through the institution. Everybody may have to make some adjustments of some sort,” he declared.”
Explaining further, Wigwe said that essential workers like cleaners, security men, tea girls were the ones mostly to be cut off. They constituted about 75% of the workforce.
“If there is one thing that has come out of this whole lockdown period is the fact that digital is the way forward. We do not need the same complementary staff to take to where we are going.
“It also shows that job essential services particularly outsourced staff will not necessarily be at levels that would be required.
“We probably don’t need as many security men as required, even to the fact that we are not going to have all our branches open between now and December.
“We don’t need all the tea girls. We don’t need all the cleaners. We don’t need all the tellers, etcetera, etcetera,” he said.
Job creation experts like Mr. Chuks Nwosu – author of “Pathways to Effective Entrepreneurship,” have been predicting downsizing in corporate sector of the economy due to the covid – 19 adverse effects.
All the lockdown by both federal and state governments tell on the economy. There will be multiplier effects globally and not only in Nigeria, considering also the drop in oil price.

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