Diamond Bank Sacks Over 100 Workers

Diamond Bank Plc yesterday relieved over 100 of its staff their jobs, for not measuring up to the Bank’s measuring standard. Recall that we reported to you about a month ago when Stanbic IBTC Sacked 250 Workers, Visafone Sacked 60 and we also heard then that more would follow in other companies. We titled the topic, Stanbic IBTC Sacks 250 Workers, Visafone Sacks 60, More To Come.

National Mirror was told that those affected, which included those that have spent over five years with the bank have been given their sack letters.

According to a source close to the bank, there was palpable tension and a brief stop of office activities at the headquarters of the Bank in Lagos where many of those affected were serving.

It was gathered that the financial institution allegedly downsizing was necessitated due to low patronage, which the bank is experiencing in recent times.

National Mirror was not able to get the actual number of those sacked, but was told the number is over 100.

A company source however said the affected staff were those who performed below average in the bank’s yearly assessment test.

It would be recalled that the bank in May, sacked over 200 staff of which majority of the affected were contract staff. This contract staff includes secretaries, drivers, office assistants, technical crew, among others. The bank currently employs over 7000 staff of which over 4000 of this number are contract staff, a source disclosed.

The bank also in 2012 laid off some of its staff classified as non-performers, while it increased its staff compensation scheme.

In an internal memo titled: “Review of Compensation Package and Consequence Management” addressed to all staff by its Human Capital Unit, the bank stated that in line with its organisational vision statement and the need to only retain the best people in the system, it has relieved some staff of their duties with immediate effect.

Source: National Mirror