We reported earlier today that the Group Managing Director of Access Bank Plc, Herbert Wigwe, in a video, hinted that the financial institution would be engaging in mass retrenchment as seventy-five per cent of the bank staff strength are no longer needed. Wigwe said the planned mass retrenchment of its workforce is due to the outcome of the COVID-19 pandemic and the resultant lockdown.
The MD, who spoke via video conferencing in a town hall meeting with the bank’s staff, expressed his regret. He said those to be affected by the mass retrenchment are 75% of the bank’s staff, most of whom are outsourced and are offering “non-essential services”. Moments after the development was reported, it became a trending topic on social medi — which means that it has been presented before the citizens court. Nigerians taking to Twitter, condemned the bank for donating 1 billion naira to the federal government’s COVID-19 fight only to end up making plans to retrench its staff and cut salaries.
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