Stanbic-IBTC Bank On A Sacking Spree!

Oh there we go again,
Unemployment increasing at an alarming rate. 

Appalling,apauling, apalin, applelin, na wah o! this word again??
nairaland!!!!


Anyways, i think the industry will be better of for it later on when confidence is restored, looks like everyone got carried away with the post consolidation success stories and the rot crept in on the industry.
I wish there was a way they can do it without bloating up the employment market, there are too many there people already.

@ogef4real   I swear you are truly hilarious. I laughed till tears came out of my eyes. You should be a comedian. what do you mean by changing gear? I can just imagine the recession as a car in Nigeria and is actually changing gear, ol girl na yawa be that ooooooo

dude, quit talking crap.
where do you get the clue that i am an employee?
as an entrepreneur, how much are you worth?
the boys that do diligence for M & A in consulting firms and the boys on Wall street, you deluded mind tells you that they live from hand to mouth?
i repeat, entrepreneurship is not for everyone.
money is not everything.you can diligently follow a career path and make it big without the being your own boss.
there are men and women in Nigeria and the rest of the world who have made it in paid employment by deploying their skills,talent and intellect without stepping into the world of entrepreneurship.
paid employment is larger than your small world, stop being myopic for once.
i repeat, as good as entrepreneurship is, it is not the only route.it has its downsides.it is not for everyone.
try and think in a holistic manner.

you give the impression that every entrepreneur is better off than their counterparts in paid employment.
just like their are persons who can not stomach the risks involved in being their own bosses, their are persons who are entrepreneurs because they do not have the discipline to work under someone else.

Cant u guys pass comments without insulting urselves?the truth is that not everybody can be entrepreneur but the question u shd also be bothered about is that WHAT IF your EMPLOYER SACKS YOU WHEN your WIFE HAS JUST DELIVERED OF TWINS?How do u cope?it does not hurt if as an employee,u put your money in some investments that brings constant source of income weekly or monthly like buying okada,danfo etc and give it to pple.you would be getting paid weekly or monthly.You are an entrepreneur  and at the same time,u are an employee with your company.Do u have to go to STAMFORD OR HARVARD to learn this common sense?

it's just safer to have more than one source of income guys, GOD BLESS U ALL

So it is good thing if jobs are created on a dangerous foundation than if few exist on solid foundation?

again, you're wrong. you measure success by the amount of salary a worker takes home at the end of the month and you think, 'hey, i'm better than that roadside mechanic or that painter who collects peanuts'. but have you ever stopped to wonder why inspite of the huge salary some people get paid at the end of the month, they still end up broke? why after 15 to 20 yrs of salaried job, they always catch cold anytime they hear of downsizing? now here's why: that roadside mechanic or painter may be earning little, but he has control over his future. he may start little today but in another five years, go and check his workshop. he has expanded and has employed 2 or 3 apprentices working for him. don't be surprised to see him already planning to buy a car. somebody else in paid employment within that period will only be praying for a promotion or pay rise. what am i saying? an entrpreneur-any entrepreneur at all is better than a salary earner-even if that person earns one million naira a month.

you talk of discipline; do you know that entrepreneurs are one of the most disciplined set of people? you cannot afford to be lazy or lousy if you want to grow your business. when a salary worker is thinking of closing on time and going home, the business owner is just starting his work for the day. it takes a lot of strategising to keep a business afloat and if you're indisciplined there is just no way you can make it. so, it then goes to say that if you do not have the discipline to work under someone else, you will certainly not have the dscipline to be your own boss.

Guyz, Stanbic IBTC went on retrenchment of 300 staffs u are complaining. Av u head that Wema Bank has gone beyond 500? What then can u say abt that. Banking Sector, the second biggest emloyer inn 9ja is now on mass retenchment. 9ja, which way?

@burgy,
i'm glad you see my point. mind you, being an entrepreneur doen't always mean you have to go it alone. everyone has his strengths and weaknesses and that is why some people go into partnerships. that way, they compliment each other.

For all those seeking authentication, look no further, i was dropped also. And the letter held no reason. They just decided to lay off people.

I have watched with interest the great debate on whether everyone can be thier own boss. Quite interesting indeed, my comment is as follows:

We cant all be employees, someoone has to do the employing so on that score we surely need people to be thier own boss and hence create jobs. Without creation of new businesses we would have a finite number of vacancies, Nigeria is in trouble economically because we are LOSING jobs rather than creating!

Can all of us be our own boss-YES INDEED but WILL all of us do so sadly the answer is NO. Why not? I think the reason reflects in the arguments of those who say no, they believe it takes a special 'gift' to be your own boss, they think its destiny so the meekly accept their position! But that is FAR FROM THE TRUTH! The truth is ANYBODY can LEARN to be their own boss we can CHANGE  the mindset and LEARN NEW SKILLS, we learnt skills to become employees so why cant we learn skills to become business owners? Truth is few simple changes can start one on that road but one can only make that change if one KNOWS the change is possible. You can change your future change your income change your options, ONLY IF YOU KNOW ITS POSSIBLE AND YOU WISH TO CHANGE.

Moving from employee to business owner is more of a mental change than action, lots of us dont make the mental transition so we can never take the necessary actions. Like George D said, its all about control, the big question is- who is in control, surely if the ibtc staff were in control they would be going to work on monday but guess what? they are not in control and someone else decided their fate!

Like i always say on this forum, its not HOW MUCH MONEY YOU MAKE, ITS HOW YOU MAKE MONEY, if you dont enjoy LEVERAGE, EXPONENTIAL GROWTH AND RESIDUAL INCOME YOU WILL STRUGGLE FINANCIALLY, Employees actually have these three things mostly working AGAINST  them rather than FOR them.

So can we all be our own bosses? Yes, will we all do so? No. Some of us have to be employees. As the saying goes: its an awful job but someone has to do it. My addition to that statement is: DOES IT HAVE TO BE YOU?

There is this story of a journalist who asked an eccentric billionaire:"Sir why do you own 99 Rolls Royce cars?" The billionaire looked shocked and responded:"My dear fellow you ask the wrong question, the question is why don't YOU own 99 Rolls Royce cars?" Lets ask the right question, its not "can we all be our own boss?" its rather :" WHY CANT I BE MY OWN BOSS?" Sorry for the long post.

Much respect and admiration

Bros, my sincere condolences.

WISDOM!

You guys seem to have moved away from the main topic, from Stanbic to whether one should be entrepreneural or not.

I'll address both in my post anyways. For the record, I think everyone should have an entrepreneural mindset, regardless of whether you're in paid employment or not. Mind you, I don't mean you must compulsorily have a company on the side. But basically, everyone should have multiple streams of income, whether they are actively involved or not. Have a little something that is fetching you some small coins on the side, and make sure you gradually, over time, allocate more time to it. In the early days, you might not be able to do much, but keep it in view anyhow. With time the right opportunity will present itself.

Also, everybody who is working in paid employment should approach their job the same way an entrepreneur should approach their business: with a give-and-get mindset. You must be able to quantify what you're putting into the job, and what you expect to get out of it. Don't just go to work like everybody else. Work for a reason, could be money (best reason in my view!), or could be other things like knowledge, exposure, contacts, etc. Don't be decieved into working for job satisfaction or job security. The world has since moved on from that, which is why peeps are getting fired right left and center, once the grapes go sour.

Now to the issue of Stanbic. I know for a fact that Stanbic cannot be in any financial problems in Nigeria; rather they are trying to grow their customer base, and play more aggresively in the retail market. I suspect that, being a foreign operation and not our usual Naija arrangement (Hire my friends/brothers/cousins etc), they are trying to apply lean techniques and trim down the inherited baggage from IBTC Chartered.

Mr AjanleKoko, i fully agree with you, like i said before no business would ask its good hands to leave for no reason, unfortunately we get overly emotive and less objective in our dear country, in life we need to strike a balance, sometime we need to make painful decisions for the greater good!