0 Members and 1 Guest are viewing this topic.


Diamond Bank Drops 200 Workers
« on: June 01, 2016, 11:32 AM »
Nothing is as sad as spending years in college to study a particular course, graduate with good grades and participate fully in mandatory National Youth Service Corp programme in Nigeria which most people do rephrase to mean Now Your Struggle Continues. With fresh energy out of school, striving to make a difference by securing a decent job thinking that is good enough and all will be well.

Only to wake up one morning to find out that your name has been shortlisted among the people to be kicked out from your company.

Well, this news right now has gone viral and the company blames their action for slowdown in the economy that has fuelled a high non-performing loan rate in the banking system, causing banks to record sharp decline in their profits for the 2015 financial year and the first quarter of 2016.

Do share your thought on this issue cause for me I know it’s not just that only, advancement in technology is also one of the major reason even though people are not looking towards that direction. What am saying is we have machines everywhere, POS terminals, and lots of web/mobile banking services from almost all the banks. So banks don't need much workforce force as they used to.

Diamond Bank Plc has fired 200 of its workers on Friday based on the economic challenges in Nigeria tells badly on the financial service industries after disclosing that their profit before tax for the first quarter of 2016 declines from N7.94bn in 2015 to N6.04bn.

Confirming their action towards development of Diamond bank in a statement on Tuesday read, “Diamond Bank recently right sized its workforce. The rightsizing was a core strategic exercise in line with the bank’s growth objective and the will to continue the drive to optimise cost and enhance value for the shareholders at the end of the business year.

“In the bank’s last appraisal, only 200 staff whose performance scorecards were adjudged to be lower than the minimum required to drive its strategic growth plan for the business year were relieved, with the opportunity to seek employment in other organisations where their respective skills set and individual performances could be enhanced and optimised.

“The yearly appraisal is a general industry standard and enables banks to prune their workforce and prudently allocate resources for optimum result. Diamond Bank is not an exception in the industry and therefore, had carried out its annual appraisal and found the performance of members of staff that were relieved to be below the required minimum performance level that would sustain them in the system. With its trim-and-fit workforce, the bank is sure to meet its target for the current business year.”

However, unknown source claims the workers dropped were over 400.

« Last Edit: June 01, 2016, 11:36 AM by mattmaik »


World Bank Young Professionals Program(YP) 2011

Started by Briggz5d

Replies: 1
Views: 2985
Last post June 30, 2011, 08:14 AM
by ClintonSpel