Another batch of contract staff were sacked yesterday, whether you've spent 7,8,9 or 10 years, they were all given exit benefit 200k.
Like over 1500 people between last week and yesterday, in a time like this.

How true is this! If true, I think it's high time contract staff unionized even though it's against company rules

icon007:
How true is this! If true, I think it's high time contract staff unionized even though it's against company rules

They all got their 200k immediately they got the message yesterday evening,
My bosom friend was affected yesterday, after 9years of service , 200k that cannot pay his house rent and he's also a family man

It's not surprising. The recent low demand for crude oil and the FG single treasury policy affected all Banks and continues to affect some.

Expect more mergers in the coming years.

CsRockefeller:
It's not surprising. The recent low demand for crude oil and the FG single treasury policy affected all Banks and continues to affect some.

Expect more mergers in the coming years.

Very true comrade

Sad indeed

But we must stay optimistic that the sun will shine after the storm

Cheers

seniormallam:

They all got their 200k immediately they got the message yesterday evening,
My bosom friend was affected yesterday, after 9years of service , 200k that cannot pay his house rent and he's also a family man

That's 500€

UBA just employed 800 bank teller in Lagos State ....

seniormallam:
Another batch of contract staff were 7,8,9 or 10 years, they were all given exit benefit 200k..

God! My heart can't comprehend this

The info is true, a friend was affected as well. First Bank is rather wicked with its approach to disengage staff. My friend found out he was sacked when he could no longer log in on their server. He kept trying and trying, for where, after several attempt, he got the news he wasn't on their list again.... so sad

One problem about being a contract staff is

being a contract staff that wont be converted into permanent

life continue. It will be tough and strenuous but the tough ones will survive

Next level and Buhari zombies.

seniormallam:
Another batch of contract staff were sacked yesterday, whether you've spent 7,8,9 or 10 years, they were all given exit benefit 200k.
Like over 1500 people between last week and yesterday, in a time like this.

By FORCE pensioners without pension

Please someone should explain to me how First bank or the banking system works??


Why were they laid off??

This is sad.

Then they'll replace them with younger people and use the juicy part of their lives.

Vicious cycle.

I don't know what the future holds but if I eventually work for a bank, I don't intend to stay more than 5years there.

To be self employed is the way now

I wonder what will happen when the government brings a recapitalisation policy....
More lay offs.

Education sector: TCN wan sack teachers that are not qualified
Banking sector: massive contract staff lay offs
Information sector: social media regulation

Omo, na to leave this country oo, it will soon go round all the sectors

How true is tgis

its painful

The mods will never see this kind of news.

Working in a bank as a contract staff is tantamount to Slavery. Beware!!!

enawt:
I wonder what will happen when the government brings a recapitalisation policy....
More lay offs.

Education sector: TCN wan sack teachers that are not qualified
Banking sector: massive contract staff lay offs
Information sector: social media regulation

Omo, na to leave this country oo, it will soon go round all the sectors

Beverage companies like Nigerian Breweries will soon EXECUTE their own layoffs soon. The most affected will be their sales reps who will be substituted withe semi-contract LARs.

They most likely will do this before their next sales conference if it will hold.

Pr0cter:
Please someone should explain to me how First bank or the banking system works??


Why were they laid off??

That is what Technology does....ATM machine can handle the job of 20 tellers...so to be one of those indispensable staff, be the one they need to call that ATM is not working, server issues, etc etc

Choi

seniormallam:

They all got their 200k immediately they got the message yesterday evening,
My bosom friend was affected yesterday, after 9years of service , 200k that cannot pay his house rent and he's also a family man

this is a pitiable situation, they shouldn't have sack them

Nigerians u are funny u who is a contract staff don't u know that anything can happen

seniormallam:

They all got their 200k immediately they got the message yesterday evening,
My bosom friend was affected yesterday, after 9years of service , 200k that cannot pay his house rent and he's also a family man

9years as a contract staff??. Wtf!!!

figoperch:


Beverage companies like Nigerian Breweries will soon EXECUTE their own layoffs soon. The most affected will be their sales reps who will be substituted withe semi-contract LARs.

They most likely will do this before their next sales conference if it will hold.

think you are right.
tell me more about the semi contract LARs cos I sincerely hope this will not affect a person I have in the beverage company (sales rep)

When one door closes another shall open

I don't have any problem with the bank retrenching staffs. It a normal practice in private sector as most companies are cutting cost using different means including retrenchment to lower employee cost.

However, it amount to serious infraction on our labour laws to use an employee for more than 10years and lay them off with just 200k as severance package. Ecobank did the same thing in July and the retrenched staff took to the street in protest. At the end of the day the bank had no option but to negotiate with them and they were paid additional severance package.

The government must through the ministry of labour and productivity protect workers from this type of inhumane and unfair treatment. Also, job seekers must read and understand before they accept and sign any employment contract.

The painful thing is the bank will replace the retrenched staffs with another set of unsuspecting and desperate young job seekers which they will use for another 10 years . And the circle continues. what a pity.

Bank contact employment is a scam.