Bank can sack any time any day,i was a victim of dis too

Pls sumone shud help me underdstd, a coy dat makes billions in profit & has just 8000 staff, why are dey sacking?
4 u 2 say u have a profit of billions, u've deducted staff cost 4rm it. Also are dey saying deir cashflow is not in billions?
It is well!

People think wat is happening in Naija is play.

musicwriter:
More loan goes to those who have more money. I've been trying to explain this to some people on this forum, but they couldn't just get it that the IMF and world bank literally lobby countries for more loan, just like first bank plan to do now.

In case you're one of such people, just read the new first bank policy direction. The IMF and world bank are banks and makes profit exploiting countries by giving them loan. The only difference is first bank wants to partner with oil companies while IMF and world bank look for stupid countries to partner.

Loans remains the biggest profit strategy for banks. Bank's cannot make profit, unless they give really huge performing loans to companies.

This's why the IMF and world bank are always hounding third world countries for loan!!.

I wish someone understand this and be wise.

I understand you very well sire.

Does first to comment help people they want to relieve of their Jobs? What is d big deal about dis first to comment thing? Is there an award for it or you get Job through first to comment. Am waiting for answers.
God bless Nigeria.

lifezone247:
A source within the bank confirmed to Vanguard saying, “It is not that we plan to sack 1000 staff at a go. It was part of the measures taken last year to enhance the profitability of the bank. So the pruning will be gradual and it started last year”.
Planing not to sack at a go or not, sack na sack. But 1000? That's too much abeg.

Just look up my post, you will knw how far

The fear of Buhari ant-corruption in the air, no more sharp practices to making big profits, even banks now know you have to properly account for the profits they make now.

Does first to comment help people they want to relieve of their Jobs? What is d big deal about dis first to comment thing? Is there an award for it or you get Job through first to comment. Am waiting for answers.
God bless Nigeria.

lifezone247:
A source within the bank confirmed to Vanguard saying, “It is not that we plan to sack 1000 staff at a go. It was part of the measures taken last year to enhance the profitability of the bank. So the pruning will be gradual and it started last year”.
Planing not to sack at a go or not, sack na sack. But 1000? That's too much abeg.

Just look up my post, you will knw how far

dahmie2013:
Pls sumone shud help me underdstd, a coy dat makes billions in profit & has just 8000 staff, why are dey sacking?
4 u 2 say u have a profit of billions, u've deducted staff cost 4rm it. Also are dey saying deir cashflow is not in billions?
It is well!

Can't you get it? There was a reduction. A very sharp decrease in their profit margin in 2015 compare to 2014.

Every firm or company want to make an increase in profit yearly and not the reverse. Unfortunately the poor staff suffer the consequences.

For the sharp brains among them, the severance package is enough to invest and move on.

oh! wahala dey o

angelusbrut:


ministry of works sacked 300, so what are you saying

when was that ?pls are u sure of what you are saying ?

They started since December and started with Management staffs and nt Junior staffs.

How old are you ?

FUCKU:
Am I the first to comment?

FCMB sacking also

Now i can see d reason for d mad deduction of customers accounts without fear of God .They can continue with those who cares for me am gone .


http://www.vanguardngr.com/2016/04/fbn-holdings-downsize-boost-profitability/[/quote]

This is the change that we voted for in Naija[color=#990000][/color]

Tough times for financial institutions...

Iko5000:
How old are you ?

I am 100yrs old. You P::R::I::C::K

magicfingers009:
Every time companies want to cut cost / reduce expense, the first place they look at on their P & L is Staff Expense.

I hope the sacking would start from the top (GM to SM cadre)

But those ogas would find a way to push the Tsunami on junior staff which would have minimal effect in reducing the bank's expense.

For three years now, First Bank has refused to pay me my dividend.

In case you don't know, all firstbank's branch secretary, all area Managers and all regional managers are gone already.
Now, the bank's recruitments concentrates more on the contract staffs. Very soon, sometime this year, the only core/permanent staff in all FirstBank branch won't be more than 3 (The BSM, HLS and the Head Cash) others will be contract staffs. (Note: only for those in operations department)

[s]

princeofpeace22:
Welcome development. APC is really changing things,kudos guys

[/s]

Unlike before whereby a bank marketer will meet his/her target through the lodgement unscrupulously stolen from public treasury, the chip is down: no more collaboration to loot the public money in collaboration with yeye politicians PDP again.

The ineffectual buffon and his entourage of looters really milk this country dry.

dahmie2013:
Pls sumone shud help me underdstd, a coy dat makes billions in profit & has just 8000 staff, why are dey sacking?
4 u 2 say u have a profit of billions, u've deducted staff cost 4rm it. Also are dey saying deir cashflow is not in billions?
It is well!

Here is the reason...

Unlike before whereby a bank marketer will meet his/her target through the lodgment unscrupulously stolen from public treasury, the chip is down: no more collaboration to loot the public money in collaboration with yeye politicians PDP again.

Now, marketers would sooner or later be forced to go out and look for private investors/organizations who will borrow money from them so that they can meet their target. Inability to meet this target will lead to summary dismissal.

The ineffectual buffon and his entourage of looters really milk this country dry: don't worry, bank marketers will soon reach your doorstep begging you to take a loan from them just to meet their target.

Education has become a rusted key in Nigeria...I pity those who put all their hope into it

Lazy banks were storing government monies and slush funds, declaring huge billions as profits but paying peanuts and employing casual staffs to do all their jobs. Thieves, the epicenter of the corruption that's killing Nigeria are these banks themselves. Crooks everywhere.

focus7:
The fear of Buhari ant-corruption in the air, no more sharp practices to making big profits, even banks now know you have to properly account for the profits they make now.

Lone wolf!

Jacksonville:
FTC ...


Well, 1000 is quite alot. Something needs to be done asap.It's not suppose to be all about the company cuz dat's selfishness , leaving a thousand people jobless and all dey care about is making profit??..smh

. You need to know that this is a profit oriented company, the object must be met at all time, if not, it will seize to be in existent...

Any management who cannot think of a better way of solving issues is weak, incompetent, wicked and without vision. It is becoming too rampant for top managements in most Nigerian banks and companies to resort to cutting jobs as a tool for solving problems in their organization. haba! you cannot be doing the same thing all the time and expect a different result. cutting jobs is not your permanent solution. if you continue to cut jobs, someday this angry jobless people will cut your live! you are not helping the economy by so doing.

Omonigeriarere:


Here is the reason...

Unlike before whereby a bank marketer will meet his/her target through the lodgment unscrupulously stolen from public treasury, the chip is down: no more collaboration to loot the public money in collaboration with yeye politicians PDP again.

Now, marketers would sooner or later be forced to go out and look for private investors/organizations who will borrow money from them so that they can meet their target. Inability to meet this target will lead to summary dismissal.

The ineffectual buffon and his entourage of looters really milk this country dry: don't worry, bank marketers will soon reach your doorstep begging you to take a loan from them just to meet their target.

Thanks! Dat means some staff will be redundant, hence dey have to down size.

Sai Buhari

shamecurls:
It will hit the contract staffs first coz they re easier to dispose
Na lie, D direct staff will go for it first before contract staff, contract staff are just like zombE... They can't go on strike, they can't talk unless they ask them to talk...

Modernized slavery

.

miky2002:
.

How many full staffs do you have in an average Banking hall?

I can tell you that they re less than 7 at most. Excluding there major branches

Darayola:


In case you don't know, all firstbank's branch secretary, all area Managers and all regional managers are gone already.
Now, the bank's recruitments concentrates more on the contract staffs. Very soon, sometime this year, the only core/permanent staff in all FirstBank branch won't be more than 3 (The BSM, HLS and the Head Cash) others will be contract staffs. (Note: only for those in operations department)

YOU MUST HAVE WORKED WITH THE BANK BEFORE OR STILL WITH THEM.