cbngov01:
After donating 2bn to the govt to fight COVID-19, you turn around and layoff your staff and likewise reduce salaries of the staff retained. Is it lack of foresight or is this a joke!

wman:
Oh my God.


I really hope some of those workers saw this coming and took measures to cushion the incoming retrenchment.

For those talking about a 1 billion naira donation. 7000 people x N100,000 = N700,000,000 or N700 million in a month.

Their permanent staff is just 7000. Their temporary/contract workers are far more than that. Also, many workers collect far more than N100k. So that N1 billion is far less than their salary budget for a month.

.

teepain:


I agree that it is PR to the extent of bringing it to the public; I only wanted to bring to the fore that those donations are not free as they came at a price!

Prophet777:
Useless bank, after dashing FG N1Billion just for publicity purposes right? Donating N1B at the expense of that cleaner who earns 15k per month with three children that will now drop out of school? Yet, the N1B donated has gone with the winds, cannot be accounted for.

You better put on your thinking cap. Laying off staffs at the moment remains a very bad decision, wicked act, bad reputation & image for any serious, self respected & a bank claiming to worth it salt.

Cutting down salaries including that of the MD whopping dollar's monthly income is far better than laying them off.

manuel4real:
It's better than being sacked

menix:
They should better ask FG to refund their 1 billion naira nd use same to pay salaries..

Small small Covid 20 (hunger nd suffering) is setting in..

Uwa Mmebi..

DonMustafa:
It is better to cut staff salaries than to sack them. Even if the staffs will hunt for other jobs, at least something still comes in monthly to pay bills. Complete sack is terrible.

Those of you begging bankers money, you see it is not easy anywhere in Nigeria. That is why I recommend online dating for people who need financial assistance. White people have good hearts. They have pity. They will help you if they have. You never know until you try. If it is only $500 the person sends, this is N200,000. Imagine what N200,000 will do in your life now.

This is what I did last year December when I was broke. I got a white lady through online dating and begged her. She help me and I opened a betting shop that is feeding me up to today. If I did not do online dating in December, by this lockdown, I would being eating sand. Don't just eat all the money you get. Start something small.

For those people sending PM and asking me which dating site I used, it is Bit Mistress. See the link in the pic below

DonMustafa:
It is better to cut staff salaries than to sack them. Even if the staffs will hunt for other jobs, at least something still comes in monthly to pay bills. Complete sack is terrible.

Those of you begging bankers money, you see it is not easy anywhere in Nigeria. That is why I recommend online dating for people who need financial assistance. White people have good hearts. They have pity. They will help you if they have. You never know until you try. If it is only $500 the person sends, this is N200,000. Imagine what N200,000 will do in your life now.

This is what I did last year December when I was broke. I got a white lady through online dating and begged her. She help me and I opened a betting shop that is feeding me up to today. If I did not do online dating in December, by this lockdown, I would being eating sand. Don't just eat all the money you get. Start something small.

For those people sending PM and asking me which dating site I used, it is Bit Mistress. See the link in the pic below

faceland:
I am happy with this news because they staff treat us like our money is smelling. People only go to bank when the money is too much so transaction has reduced.

Bank only open for 6 hours and the you stand outside for 1 hour before you can enter. Now they turn those without mask back home. You reap what you sow.

lalasticlala:


Source: https://www.thetrentonline.com/covid-19-distress-access-bank-to-lay-off-75-of-staff-says-md-herbert-wigwe/amp/?__twitter_impression=true



Source: https://www.bloomberg.com/news/articles/2020-04-30/nigeria-s-access-bank-to-cut-staff-salaries-to-avoid-job-losses?utm_campaign=socialflow-organic&utm_content=africa&utm_source=twitter&cmpid%3D=socialflow-twitter-africa&utm_medium=social&__twitter_impression=true

livebyday:


Smh

No there won't

DonMustafa:
It is better to cut staff salaries than to sack them. Even if the staffs will hunt for other jobs, at least something still comes in monthly to pay bills. Complete sack is terrible.

Those of you begging bankers money, you see it is not easy anywhere in Nigeria. That is why I recommend online dating for people who need financial assistance. White people have good hearts. They have pity. They will help you if they have. You never know until you try. If it is only $500 the person sends, this is N200,000. Imagine what N200,000 will do in your life now.

This is what I did last year December when I was broke. I got a white lady through online dating and begged her. She help me and I opened a betting shop that is feeding me up to today. If I did not do online dating in December, by this lockdown, I would being eating sand. Don't just eat all the money you get. Start something small.

For those people sending PM and asking me which dating site I used, it is Bit Mistress. See the link in the pic below

vikkimimi:
No job security anymore
The banking industry will be worse

“We probably don’t need as many securitymen as required, even to the fact that we are not gonna have all our branches open between now and December. We don’t need all the tea girls. We don’t need all the cleaners. We don’t need all the tellers etcetera, etcetera,”

lalasticlala:


Source: https://www.thetrentonline.com/covid-19-distress-access-bank-to-lay-off-75-of-staff-says-md-herbert-wigwe/amp/?__twitter_impression=true



Source: https://www.bloomberg.com/news/articles/2020-04-30/nigeria-s-access-bank-to-cut-staff-salaries-to-avoid-job-losses?utm_campaign=socialflow-organic&utm_content=africa&utm_source=twitter&cmpid%3D=socialflow-twitter-africa&utm_medium=social&__twitter_impression=true

lalasticlala:


Source: https://www.thetrentonline.com/covid-19-distress-access-bank-to-lay-off-75-of-staff-says-md-herbert-wigwe/amp/?__twitter_impression=true



Source: https://www.bloomberg.com/news/articles/2020-04-30/nigeria-s-access-bank-to-cut-staff-salaries-to-avoid-job-losses?utm_campaign=socialflow-organic&utm_content=africa&utm_source=twitter&cmpid%3D=socialflow-twitter-africa&utm_medium=social&__twitter_impression=true

ShenTeh:
I feel very sad for Access Bank.

The information the MD gave has been totally turned upside down, so as to make it trend.

Those who spurn the title against the actual content are our real enemies, not Access Bank. Because they are the ones that have brought an honest private (in-house) conversation to public light and twisted it to create disrepute and bad blood capable of sinking a business that thrives on trust and perception.

wman:
Oh my God.

I really feel for those non-essential workers. And many of those that previously worked in Diamond Bank. Especially those Diamond bank branches close to an Access Bank branch. We have too many branches of both banks few feet away from each other.

I really hope some of those workers saw this coming and took measures to cushion the incoming retrenchment.

For those talking about a 1 billion naira donation. 7000 people x N100,000 = N700,000,000 or N700 million in a month.

Their permanent staff is just 7000. Their temporary/contract workers are far more than that. Also, many workers collect far more than N100k. So that N1 billion is far less than their salary budget for a month.

Access Bank has a total staff strength of 28,000 with a personnel expenditure of N76 billion in 2019. That's over N6 billion a month.

You must also realise that some of these donations are eye-service that is key to getting contracts and favors from the government. Also, it is a PR move. In the next few years, they will tell investors and the general public how they helped Nigerians during the Covid-19 crisis. Everything is well-calculated and factored out.

There will be a global recession, and it makes no sense to have a bloated workforce. In the end, I blame China for all these.

9jaRealist:
.
THE HEADLINE IS A TAD MISLEADING....

Access Bank outsources most of its NON-BANK functions (such as security, cleaners, etc.). Those people are not employed directly by the bank itself, but rather by third-party subcontractors. It is these services that Access Bank intends to rationalize, which would end up presumably disengaging about 75% of such contracted persons. Doubtful that more than a small percentage of actual Access Bank core staff will be disengaged (albeit there are probably several areas of duplication post-merger with Diamond Bank that might be trimmed during this crisis).

Either way, some people are due for pain and an uncertain near-future...
Perhaps all those generous Access Bank Covid donations should have been reserved for these folks. Good luck to all.
>

ShenTeh:
I feel very sad for Access Bank.

The information the MD gave has been totally turned upside down, so as to make it trend.

Those who spurn the title against the actual content are our real enemies, not Access Bank. Because they are the ones that have brought an honest private (in-house) conversation to public light and twisted it to create disrepute and bad blood capable of sinking a business that thrives on trust and perception.

comshots:
Don't marry if you are working in a bank.Especially the men.It is not worth it at all

ShenTeh:
I feel very sad for Access Bank.

The information the MD gave has been totally turned upside down, so as to make it trend.

Those who spurn the title against the actual content are our real enemies, not Access Bank. Because they are the ones that have brought an honest private (in-house) conversation to public light and twisted it to create disrepute and bad blood capable of sinking a business that thrives on trust and perception.