COVID-19: Access Bank Set to Sack Staff, Cut Salaries

Due to the negative impact of the Coronavirus on the economy and commercial banks, the leadership of Access Bank has said that it may lay off some of its staff.

This was made known by Herbert Wigwe, the Group Managing Director of Access Bank, while speaking during a video conference with some members of staff of the bank said that some of the bank branches would not be fully operational between now and December as a result of the pandemic.

He said the essential workers such as cleaners, security men, tea girls and others constituted about 75 per cent of the bank’s workforce. The MD said, “If there is one thing that has come out of this while 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 shown that job essential services particularly outsourced staff will not necessarily be at the levels that would be required. We probably don’t need as many securitymen 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.”

Wigwe said he would take the lead in having largest pay cut of 40 per cent.

“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 per cent. The rest we would have to cascade right through the institution. Everybody may have to make some adjustments of some sort.”

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