17th May, 2010
WEMA Bank Plc. at the weekend retrenched a number of undisclosed staff, the News Agency of Nigeria (NAN) reports.
NAN gathered that the workersâ€™ retrenchment had been communicated to the affected officials at the weekend.
Although no official reason was initially given for the action, a management source told NAN that it was part of the efforts to reposition the bank for the challenges ahead.
The source said that the workersâ€™ retrenchment was the initial aspect of the bankâ€™s efforts to sanitise the environment.
The bankâ€™s spokesman, Mr Tunde Olofintila, confirmed to NAN that the bank was undergoing some reorganisation.
“The bank came under a new management last June and there is need to streamline things to ensure conformity with the dictates of the banking industry in the 21st Century,â€™â€™ he said.
Olofintila gave the assurance that “all stakeholders, particularly the customers, will be better for it”, adding that the bank merely “released some staff from its workforceâ€™â€™.
He, however, denied the speculation that about 5,000 workers were affected in the exercise, asking: “How many are we in the bank?
“By the time 5,000 staff are asked to go, there may be no one to open the gate for you the next time you come visiting,â€™â€™ he said.
“Put differently, 5,000 workers are not leaving the bank,” he added. (NAN)