Skye Bank has joined the list of banks that have been sacking employees as it recently sacked about 175 of its employees into the labour market. The bank claims these staff failed the year 2015 appraisal exercise.
Here is an excerpt of the bank’s statement.
“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.”
Skye Bank is yet to release its 2015 full year results and has not released any result this year. The bank’s acquisition of Mainstream Bank is thought to have contributed to the banks bad loans which could be the reason for the delay in the release of its results. It is also likely that some of the affected staff are mostly from Mainstreet Bank as is always the case with mergers and acquisitions. In Nigeria, staffs of acquired companies typically get to lose their jobs after the integration has been completed.