"Right Sizing": Unity Bank Recruits 300, Disengages 170 Employees

This from Thisday;

Unity Bank Plc has announced the disengagement of over 170 staff members. The bank also disclosed that it recently recruited about 300 new members of staff, mostly at entry levels.
The exercise is in a bid to right size its workforce and position the bank for sustainable quality banking services across its entire branch network.
The development is one of the key areas identified as part of the objectives that the bank’s just concluded capital raising exercise would address.

This might be considered encouraging for shareholders of the bank who are eager for a turn around of its fortunes. By “right sizing” the bank is basically reducing staff cost as it replaces the more expensive experienced staff with younger cheaper staffs.

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