Ecobank Downsizes, but Promotes Top Performers

Ecobank having recently completed its merger with Oceanic bank has announced the termination of an undisclosed number of staff, whilst also announcing the promotion of its best performing employees numbering about a thousand.

A statement released by the bank yesterday said, “As the bank continues to acknowledge and reward exceptional performance, it also recognized after careful review, the need to disengage staff and provide severance pay to those affected in agreement with the respective employee unions.”

Jibril Aku, MD of Ecobank stated, “Our focus in the new enlarged Ecobank is to ensure a smooth integration of the two banks as soon as possible while working to improve the quality of service to our customers and our operational efficiency.

“We understand that people are our key asset, so we have emphasized the need to reward our best performers, and open up new opportunities for talented, committed people to join us as permanent employees. At the same time, we are taking steps to ensure that all disengaged staff are treated fairly and in line with industry practice.”

The bank also announced the promotion of temporary employees numbering approximately 600 to permanent staff.