Access Bank PLC set to reduce salaries and lay off 75% of Staffs | Naijadailyfeed - Latest Entertainment News in Nigeria

Thursday, April 30, 2020

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Access Bank PLC set to reduce salaries and lay off 75% of Staffs

Access Bank Plc plans to cut down the salaries and also layoff a significant proportion of it's staffs as a result of the impact of the lockdown caused by coronavirus outbreak in the country.

Speaking during a live video conference meeting with the bank’s staff, Herbert Wigwe, the group managing director of Access Bank 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.”
“We probably don’t need as many securitymen as required, even to the fact that we are not gonna have all our branches open between now and December. We don’t need all the tea girls. We don’t need all the cleaners. We don’t need all the tellers etcetera, etcetera,” Mr. Wigwe said in a video obtained by The Trent on Thursday, April 30, 2020.

“The second has to do with our professional cost. Now that is one that is very tricky and it is tricky because I do understand and appreciate that its gonna, you know, bring its own pain to staff. We basically have to make the adjustments the same way you sounded when we spoke 10 days ago with respect to basically cutting down cost.

“I will be the first to take the hit and I’m gonna take the largest pay cut, which would be as much as 40 percent. The rest we would have to cascade right through the institution. Everybody may have to make some adjustments of some sort.”

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