₦airaland Forum

In recent time there's been series of sacks by banks and other financial institutions across the country.

often time ,most of this banks management never come out to give reasons for the mass sack and as such the sacked staff are left confused and dumbfounded

in my own opinion , I think banks lay off staff due to it's inability to pay for it's staff services.

MY REASONS FOR SAYING SO

- Banks are financial institutions and as such feel the impact of economic recession more than any other sector of the economy

- Banks unlike every other employer of labour can't afford to owe it's staff salary for even one month, without sending the wrong signal to depositors and the general public , any such gesture could lead to massive withdrawal of funds by customers and a general feeling of the banks weakness ( no bank wants to be presumed weak)

- other private organizations and firms can owe its workers salary for months, some even owe worker salary for over a year, and still retain employees even though they are not paid with the hope than when financial/economic situation improve they would pay up. Even the federal and state government could owe workers salary for as much as 6 months or more. But in the banking world this is forbidden, and unexplainable,the public would read negative reasons and call it a depressed bank

- Banks just like every other sector of the economy is also in this recession and they feel the effect more, even though they can't speak out in form of owing of workers salary like most state governors do, they try to maintain a level of dignity by laying of staff rather than owe staff.

I think employees/workers/staff working in any organization should try to create a sort of leverage while working by having a business on the side to avoid the fear and pain caused by sudden job loss.

No job is secure except the one u create for yourself, even a permanent secretary's job is not permanent