Nigerian lender Skye Bank has dismissed 175 employees for failing the bank’s 2015 appraisal exercise.
The bank said that multiple factors were taken into account in the annual exercise that included low productivity and disciplinary issues, among others.
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The employees laid off were duly exited in line with the bank’s staff exit policy, Skye Bank added.
Skye Bank said in a statement said: "The staff disengagement exercise is coming a year after the bank’s successful integration with the erstwhile Mainstreet Bank, which it acquired in October 2014; the integration exercise described by analysts as a landmark in Nigeria’s banking industry has significantly improved Skye Bank’s ICT capacity and helped strengthen the bank’s service delivery.
"The bank extended its appreciation to the affected staff for serving the bank, describing them as members of the family who will always be accorded deserving respect in their future dealings with the bank."
The move comes soon after the federal government issued directives to banks to stop retrenchment of employees.
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By GlobalDataSkye Bank has a balance sheet of over NGN1.3 trillion, and operates from more than 400 branches.
