The workers were sacked for inablity to cope with the new ideas and strategy of the institution which is part of its re-engineering strategy for greater performance. The source close to the bank said:
"About 200 new hires were said to have been recruited by the Bank to drive the transformation initiative began by the Management in the last one year while 100 other staff were said to have been promoted recently.
Meanwhile,some members of staff numbering about 215 have been allowed to go in an exercise that will enable the Bank re-allign its operation to pursue its long term growth strategy.
However,the affected staffs were said to have exercised the option to resign While Management has approved severance package in line with the bank's policy".
Industry source asserted that the exercise carried out by the bank was part of the hard choices that prosperous minded organizations desiring optimum performance had to take from time to time to enable it deliver
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