Dont be silly. . . This is not a case of use and dump
It is has become imperative to save the business and a larger workforce by restructuring the operations and trimming the workforce
It happens everywhere in the world. . . . . All you have to do is to wish the people affected all the best. . . And whoever is due some severance package should get it on time, simple!!

halfcurren:

@I never liked anything about UBA from the onset. . . . . Everything about 'em is just so detestable

, me too. i have never liked that bank for anything!!!

No2Atheism:

If Intercontinental Bank . . .hard problems enough to sack 1500 and UBA has problem enough to sack 2000, does that not mean that there is something very wrong with UBA books . .

princekevo:

The same question i wanted to ask. That is question many of us here chide away from, rather pointing accusing fingers here and there. I thought this same UBA was among the banks certified healthy few months ago. How come they are suddenly starts laying off workers jst like other failed banks?

No2Atheism:

If Intercontinental Bank . . .had problems enough to result in them sacking 1500 and UBA has problem enough to make them sack 2000, does that not mean that there is something very wrong with UBA's financial books . . .

odedele:

but sanusi says uba its healthy.sanusi should know dat d families of d sacked workers will never 4 give him

Sonofpeace:

Based on what has just happened in UBA it simply means that all the activities of sanusi are politically backed-up. A company that doesnt have financial problem in their balance sheet will never cut cost(if a company do cut cost is either they are trying to reduce their liability or they want to increase their asset). What all these means is that inter and other banks whose ceo were replaced have been used as political lab rat to experiment govt evil desires which seems to have failed them. Question sanusi need to answer concerning what have just happened are; 1. Does a company cut cost without having a balance sheet deficit? 2. If true that there are problems with UBA balance sheet, why did he spear UBA CEO? 3. What is CBN doing to protect the incentives of the sacked workers? 4. What is CBN doing to prevent further sacking of bank employee?

otukpo:

It is called control measure.
Even though i never liked UBA, they don't have to wait to be empty like Intercontinental b4 they start doing something to recover.

Most banks were affected due to unhealthy competition among themselves but the ones that had the CEO's sacked were the ones already heading towards beyond repair.
Then talk of total workforce of UBA vs ICB. And so many other things.

idomababe:

The truth is that , the banks were over staff and , the staff were overpaid,
The kind of armed robber salary they were all collecting,cannot be sustained.
Its either they take drastic pay cut or they would all loose their jobs.
Truth is without sharp practices their lifestyles cannot be sustained.
Its just a shame,

Would sum1 help me enlighten those talkin of global meltdown dat dis has nuttin to do with it, even if a thousand banks were closed down in the USA and a thousand more lost their jobs not one of dem had an issue based purely on giving out none performing loans and management decision to favour themselves