Nigerian lender Unity Bank has dismissed 215 employees as part of its repositioning strategy for better performance.
According to media sources, the move affected the bank’s branch managers, staff in the debt recovery department, senior banking officers as well as zonal legal officers.
The redundancies were the result of the workers’ inability to cope with the new strategy of the banking group.
The affected staff were given the option to resign, and were also provided severance package in line with the bank’s policy.
Meanwhile, the bank has also hired about 200 new employees as part of the transformation initiative started by the management in the last one year. At the same time, the bank has also promoted about 100 other employees recently.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData