₦airaland Forum

ZENITH BANK SLASHED SALARY DESPITE HUGE PROFITS AMIDST HIGH INFLATION
Zenith Bank Plc is one of Nigerian’s largest Banks with current shareholder base of over one million and the biggest tier1 Bank in Nigeria.
The Bank is ranked as one of the most profitable Bank in Nigeria with declared profits of : N99.27Billion in 2014, 105.66 Billion in 2015 and 6months profit of 44.67Billion in 2016.
Given the above robust profitability, handsome global rating and the Bank’s international recognition, one would reasonably expect the best labour practices and welfare package for the employees who are the key profit drivers. However, Zenith Bank is the least paying Bank in Nigeria with myriads of anti-labour practices ranging from intimidation of staff, forceful resignation without pay and arbitrary dismissal of workers without due regards to their fundamental human rights. In August 2016,Zenith Bank recklessly slashed worker’s salaries by 30% despite declaring huge profit of 44.67 Billion as at June 30,2016.The Bank has stopped some staff allowances without due consultation as labour act 2004, stipulates.
There’s currently an air of despair and awe among staff members and morale is on the lowest ebb, this will [b][/b] consequently affect their productivity as they feel neglected and intimidated by the Bank they toil day and night to move forward.

Next alternative since they can't sack freely

Montaque:
Next alternative since they can't sack freely

Yes, who knows if they would have sacked some workers!

Naija which way, Still dnt understand y a bank making such profit wuld take such an unwise decision and cut d salary of it workforce, dis wuld make d workers feel undervalued.....

Apc will still come and say it d fault of jonathan....
And our president wuld nt sit up and address nigerians on d economic recession dats goin on in nigeria, all we hear every day is, jonathan 2day, corruption 2morow...

I jst pray for wisdom to overshadow d daftness of dat man so dat he wuld see beyond tribalism and appoint people who can turn this country around...

Truth be told, Buhari is nt best fit to pilot this great nation if he can't go abouve his northern mentality...