business

Coronavirus: Access bank to lay off 75% of its workers over COVID-19

Coronavirus: Access bank to lay off 75% of its workers over COVID-19
Access bank is planning to cut staff salaries and lay off the majority of its staff as a result of the Coronavirus pandemic.

This is according to a viral video in which the company’s CEO, Herbert Wigwe can be seen addressing the staff. The reductions are expected to start from the month of May unless business conditions improve.

Most of the workers who will lose their jobs are the outsourced staff, Wigwe said in the video, as business operations may not resume until December. In addition to this, other staff, including Wigwe will see a cut in their salaries.

After this news was shared on social media, Nigerians kicked and shared their opinions, especially because of the company’s recent decisions.

At the start of the Coronavirus pandemic in Nigeria, Access bank donated one billion Naira to the government to help fight the virus. Before that, the company had a high profile merger with one of Nigeria’s top banks, Diamond bank.

At the end of 2019, Access bank had over six thousand members of staff in Nigeria. Nigerians have now aired their thoughts on the situation, slamming the bank for giving out one billion Naira to the government without making provisions for their staff.

Others rationalized that it is the right decision to make seeing as the ongoing pandemic is crippling economies and businesses.

See some of the reactions below: