The plan by the Managing Director of Access Bank, Herbert Wigwe to sack 75% of the bank’s workforce has become very difficult to stomach, causing backlash among the Nigerian public, following a revealing report by The New Diplomat Friday.
On Sunday, social critic and Nigeria’s former Aviation Minister, Femi Fani-Kayode joined several angered Nigerians lashing out at Wigwe for planning to sack hundreds of staff citing Covid-19 crisis after giving the Federal Government N1 billion to fight Coronavirus.
Access Bank had given the Federal Government N1 billion to wage war against Coronavirus.
Despite this goodwill to the Nigerian government, The New Diplomat reports Access Bank has mapped out plan to shut its door against 75% of its workforce in a mass retrenchment exercise already set in motion. The bank said the action was due to shocks and stress arising from the Covid-19 pandemic.
The young CEO who spoke via a podcast in what seems to be a town hall meeting with the bank’s staff, said those to be affected by the mass retrenchment are 75% of the bank’s staff, most of whom are outsourced and are offering “non-essential services.”
The bank also cut the salaries of staff of the bank, as part of measures to stay afloat.
Fani-Kayode, reacting to the development said it was foolishness for Access Bank to give FG N1 billion to fight Covid-19 and the next day mull the idea of sacking hundreds of loyal staff.
In his words: “You gave 1 Billion Naira to the FG to fight COVID-19 & the next day you sacked hundreds of your loyal staff.
“You betrayed your workers and turned your back on them when they needed you most because you were more interested in your profits and appeasing Buhari. SHAME ON U!
“Worse still, you shut down 340 of your branches! With a stroke of the pen you have thrown thousands of people into unemployment at a time when they are already going through hell because of the lockdown and you have destroyed many families. Herbert Wigwe, how do you sleep at night?”
