I just heard a disturbing news that commercial banks are embarking on a 30% salary slash of their staff in a bid to reduce cost. Someone from Zenith Bank said they have received correspondence to that effect. Can someone please confirm this?

I think i heard similar thing.. Op if en reach fp, u go know better. Cc:lala

Its better than firing some.

Mod please move to front page so we can know the actual situation

Yes, it's very true. Some banks here in Kano will started implementing it end of September.

Depending on your take home. Slashing will be from 10, 20, 30, 40-60%

Mehn, the recession is very true

Buhari's impact

It is true some banks started in August.

Not only banks most companies esp the ones managed by Indians and Chinese had already effected 50% slash.

Special thanks to Ngeneukwenu, gbakwe, dropshot, passingshot and Jarus and co

Am waiting for fuel price to increase to 200/litre and $1 = #1000

kennethbetha:
I just heard a disturbing news that commercial banks are embarking on a 30% salary slash of their staff in a bid to reduce cost. Someone from zenith bank said they have received correspondence to that effect.
Can someone please comfirm this.

cc: mizmycoli, tonyebarcanista, temitemi1, mynd44, seun, lalasticlala

wao.impressive.i hope Buhari is happy about this development. Mtcheeeew

Thanks to Buhari and his Economic illiterate team

realpoacher:



At the bolded, this is where alot of you pessimist are missing the point.... MMM doesn't take from only new members because both old, former and new members contribute I.e PH and Re-PH monthly.

So its not as if MMM collects from a new member A and wait for another new member B to pay new member A. No! Any old member can be linked (paired) with new member A to pay him and another old member linked to new member B. It's a continuous vicious and constantly rotating cycle. If you PH today, you will get GH tomorrow, next tomorrow you will and must come back to Re-PH next tomorrow else the system deletes you.

Oga, this model or program will last for a very long time my friend because the designer already thought out the variables.

MUMU people will not understand something before they bad mouth it...

Mr know it all, you still haven't answered my question? On what economic model does MMM thrive? Can you explain what happens when GH becomes greater than PH? Rubbish!!!


And did you just call it vicious cycle? You know what that word means You have a long way to go learner. I'm just too busy to engage in such rant with you. My interest is to help innocent people out there at the verge of being defrauded by a Vicious rogue.

Bihari's change is corrosive; easily circulated; we dey feel buhari big time

Well, slashing salaries is better than mass retrenchment.

Things are only getting worse, we better brace for impact of this reckless administration.

Why can't this man resign honourably?

Ok

This is serious! Baba God sanu wa!