The crisis rocking the nation's banking industry is likely to take off the merriment that comes with christmas, for about 400 staffs of Zenith Bank plc were on friday handed termination letters by the bank's mgt.
One wonders why Zenith Bank plc which is one of the banks declared healthy by the CBN has to take such drastic measure. and if zenith has to lay off as much as that number of staffs, then one wonders how many the banks whom CBN declared to be in a shaky and fragile situation would lay off.

This is so sad for the fact that the banking sector has for some years now been one of the sectors that has been very active in employing fresh school graduates in good proportion, and paying them reasonably well thereby turning around the lives of so many families.
With the movement of the manufacturing industries such as michelin, cadbury, unilever e.t.c to Ghana, we were left with just the banking and telecomms sector being amongst the most active with the former having the largest portion of recruitment, and with this sector crumbling before us today due to selfishness of few individuals ,all we have to do is just hang our with JEHOVAH

Na wa oo. I heard the gist over the weekend too. What amazes me is the criteria that was used to retrench. Was it truly based on performance or were they ''scape goats''

do u know anyone that was laid off, as of yesterday saturday, their staff audit was still going, be careful how uyou spread rumor, yes they will ask people to go but they have not so stop sreading unfounded rumors!

Its a fact but the number was not up to 400 and they were not retrenched, they were forced to sign resignation letters already typed for them.
I have first hand information about this and would appreciate it if rumours are prevented from spreading.

I FELT BAD TOO WHEN I HEARD ZENITH HAS LAID OFF SOME STAFF,WHAT BOTHERS ME IS THAT THE CRITERIA USED WAS BIASED,INSTEAD OF LOOKING FOR WAYS TO RETAIN THEM EITHER BY SLASHING THEIR SALARIES,AT LEAST THAT WIL STIL PUT FOOD ON THEIR TABLE,THE UNEMPLOYMENT RATIO IN NAIJA IS HIGH ENOUGH FOR SOME BANKS TO LAY OFF THEIR STAFF,WHICH WAY NIGERIA?