Home Business News Companies Despite Having Industry Lowest Cost To Revenue Ratio, GTB Sacks 100 Staffs

Despite Having Industry Lowest Cost To Revenue Ratio, GTB Sacks 100 Staffs


Segun Agbaje


GT Bank has changed much since the entrance of Segun  Agbaje as MD. They’ve continued to lead the indsutry in terms of profitability mostly driven by their ability to control cost. But also the bank employees have never been this scared of loosing their job despite having on of the best staff turnover in the industry. To buttress this they have just announced the sack of about 100 (official number) of their employees as confirmed in the Punch Article below;

Guaranty Trust Bank Plc has sacked 100 workers in the just concluded annual appraisal exercise of the bank for the 2013 financial year. The bank said, in a statement made available to our correspondent on Sunday, while 100 workers were sacked, 500 workers were promoted.

It said, “The exercise resulted in rank elevation for over 500 employees that put in an exceptional performance during the year. In line with international best practice, 100 employees whose performance fell below the bank’s minimum performance grid were eased out of the bank’s employment in a bid to maintain service quality standards, promote customer satisfaction and enhance the GTBank brand experience.”


GTBank sacks 100 workers, promotes 500


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