Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,207,228 members, 7,998,281 topics. Date: Saturday, 09 November 2024 at 11:35 AM

Access Bank To Cut Staff Salaries, Retrench 75% Of Workers - Career (8) - Nairaland

Nairaland Forum / Nairaland / General / Career / Access Bank To Cut Staff Salaries, Retrench 75% Of Workers (80687 Views)

Fuel Subsidy Removal: Lapo MFB Increases Staff Salaries / 'FG Plans To Retrench Workers' - Labour Raises Alarm / Coronavirus: TVC Slashes Staff Salaries - Politics Nigeria (2) (3) (4)

(1) (2) (3) ... (5) (6) (7) (8) (9) (10) (11) (Reply) (Go Down)

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Jonakez(m): 11:07am On May 01, 2020
Hello Bro... Good day.. Pls Intimate me the more.. The stuff/site is asking to be paid in Bitcoin with $29 for a start (minimum). Pls drop or inbox me your contact phone number... I want proper orientation!...
Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Jonakez(m): 11:08am On May 01, 2020
[
Hello Bro... Good day.. Pls Intimate me the more.. The stuff/site is asking to be paid in Bitcoin with $29 for a start (minimum). Pls drop or inbox me your contact phone number... I want proper orientation!...


Those of you begging bankers money, you see it is not easy anywhere in Nigeria. That is why I recommend online dating for people who need financial assistance. White people have good hearts. They have pity. They will help you if they have. You never know until you try. If it is only $500 the person sends, this is N200,000. Imagine what N200,000 will do in your life now.

This is what I did last year December when I was broke. I got a white lady through online dating and begged her. She help me and I opened a betting shop that is feeding me up to today. If I did not do online dating in December, by this lockdown, I would being eating sand. Don't just eat all the money you get. Start something small.

For those people sending PM and asking me which dating site I used, it is Bit Mistress. See the link in the pic below [/quote]
Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by IFNOTGOD(m): 11:09am On May 01, 2020
leo047:
if you own a business you won't say such at the detriment of your business...

if u were a staff of access bank u won't make such comment.

have u seen d pyramid of staff salaries in these banks?

payment of staff salaries n allowance is wide at d top with just few persons, while the payment of these 75% is thin even though dey are much.

senior managers n above have official cars, subscription n even get paid for medical trips abroad while the so called cleaners n outsource staff don't have such privilege except what dey collect at d end of d month.

sacking I d 75% of outsource staff will still not add much to their profit, check d salary of d cleaner compare it to dat of a senior manager n tell me d %age.

dey should start with d top management staff dat way I will know dey are cutting cost.

a cleaner collects 20k.per month while an SM collects a million at d end of d month now tell me who is suppose to go?

in a year d average outsource staff salary is not even up to d monthly pay of a senior manager.

sometimes some of u comment without thinking

try to have human sympathy.

7 Likes

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by IFNOTGOD(m): 11:11am On May 01, 2020
post=89052037:
75% what

Who go come remain for the bank?
Only senior staff?

Coronavirus, this is not just fair, we saw somewhere here yesterday that over 30 million Americans are currently without jobs.

Sh#t ain't funny!

stop posting fake news

1 Like

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by xaggar(m): 11:11am On May 01, 2020
Galaticos444:
Naija banks are d most laziest and mediocrity
set of banks in d entire world.the only tin they ar gud at is to carry out all kind of daily,weekly,monthly deductions 4rm their customers and dat brings d question wot do dey with dose money cos dey make alot of fortunes 4rm such deductions

We get don't you just whistle if you don't know what to think/chat/talk about.
Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Nobody: 11:17am On May 01, 2020
Lord preserve my soul and my loved ones to scale through this pandemic unscathed.
Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Oyeniyi97(m): 11:18am On May 01, 2020
wman:
Oh my God. embarassed embarassed embarassed cry cry cry

I really feel for those non-essential workers. And many of those that previously worked in Diamond Bank. Especially those Diamond bank branches close to an Access Bank branch. We have too many branches of both banks few feet away from each other.

I really hope some of those workers saw this coming and took measures to cushion the incoming retrenchment.

For those talking about a 1 billion naira donation. 7000 people x N100,000 = N700,000,000 or N700 million in a month.

Their permanent staff is just 7000. Their temporary/contract workers are far more than that. Also, many workers collect far more than N100k. So that N1 billion is far less than their salary budget for a month.

Access Bank has a total staff strength of 28,000 with a personnel expenditure of N76 billion in 2019. That's over N6 billion a month.

You must also realise that some of these donations are eye-service that is key to getting contracts and favors from the government. Also, it is a PR move. In the next few years, they will tell investors and the general public how they helped Nigerians during the Covid-19 crisis. Everything is well-calculated and factored out.

There will be a global recession, and it makes no sense to have a bloated workforce. In the end, I blame China for all these.

Nice, you've sense

1 Like

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Lanre6: 11:18am On May 01, 2020
wman:
Oh my God. embarassed embarassed embarassed cry cry cry

I really feel for those non-essential workers. And many of those that previously worked in Diamond Bank. Especially those Diamond bank branches close to an Access Bank branch. We have too many branches of both banks few feet away from each other.

I really hope some of those workers saw this coming and took measures to cushion the incoming retrenchment.

For those talking about a 1 billion naira donation. 7000 people x N100,000 = N700,000,000 or N700 million in a month.

Their permanent staff is just 7000. Their temporary/contract workers are far more than that. Also, many workers collect far more than N100k. So that N1 billion is far less than their salary budget for a month.

Access Bank has a total staff strength of 28,000 with a personnel expenditure of N76 billion in 2019. That's over N6 billion a month.

You must also realise that some of these donations are eye-service that is key to getting contracts and favors from the government. Also, it is a PR move. In the next few years, they will tell investors and the general public how they helped Nigerians during the Covid-19 crisis. Everything is well-calculated and factored out.

There will be a global recession, and it makes no sense to have a bloated workforce. In the end, I blame China for all these.
Baba that is not true, cleaners and tea girls earn average of 31k, Access bank have ND holders who they pay average of 50k , security personnel average of 60k, HND holders between 80k to 90k plus. Largest work force are ND holders who are their in-house Tellers and acquired Diamond Tellers who earn average of 50k followed by cleaners and security personnel.

5 Likes

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by walkwithgod(m): 11:25am On May 01, 2020
All i got to say is Bleep 9 - 5 jobs.

Build a business for yourself so that when you are no longer in existence, your kids can have something to fall back on.

Reach me if you need free digital courses to take during the lockdown.

Post covid 19 won't be the same again, so many people will loose jobs, sell cars, school fees wah ala, mortgage, rent..lol...the list is endless.

Just kukuma move to your village and rest.

Zero seven zero eight eight three one three four four nine.

Cheers.

1 Like 1 Share

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by afroxyz: 11:27am On May 01, 2020
quentin06:


He should do a sex change, women are not affected especially the curvy ones. Had a church member who spent 2.5m on enhancement surgery, its paying off now, she s a branch manager, hot and unsackable.

When it comes to making business decisions, all this one no follow

2 Likes

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Buharidgeneral: 11:34am On May 01, 2020
He don red for Access Bank staff.

Banking job has always been very sensitive sector to work. Any disruptions in there inflow always brutal

That's too bad at this time

May be some of the performing loans are on oil business and since the price isn't doing fine hence the cut down.

1 Like

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by phenomental40(m): 11:35am On May 01, 2020
after dem do carry all their money give fg finish now na to dey cut staff salary, dey debit customers unnecessary. that's good for STARTERS
Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by hush15: 11:37am On May 01, 2020
DonMustafa:
It is better to cut staff salaries than to sack them. Even if the staffs will hunt for other jobs, at least something still comes in monthly to pay bills. Complete sack is terrible.

Those of you begging bankers money, you see it is not easy anywhere in Nigeria. That is why I recommend online dating for people who need financial assistance. White people have good hearts. They have pity. They will help you if they have. You never know until you try. If it is only $500 the person sends, this is N200,000. Imagine what N200,000 will do in your life now.

This is what I did last year December when I was broke. I got a white lady through online dating and begged her. She help me and I opened a betting shop that is feeding me up to today. If I did not do online dating in December, by this lockdown, I would being eating sand. Don't just eat all the money you get. Start something small.

For those people sending PM and asking me which dating site I used, it is Bit Mistress. See the link in the pic below
pls don't stripe people of what is left of them. Its going to be wickedness when you con them out of the little they have to survive on.
Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Deoboss(m): 11:40am On May 01, 2020
DonMustafa:
It is better to cut staff salaries than to sack them. Even if the staffs will hunt for other jobs, at least something still comes in monthly to pay bills. Complete sack is terrible.

Those of you begging bankers money, you see it is not easy anywhere in Nigeria. That is why I recommend online dating for people who need financial assistance. White people have good hearts. They have pity. They will help you if they have. You never know until you try. If it is only $500 the person sends, this is N200,000. Imagine what N200,000 will do in your life now.

This is what I did last year December when I was broke. I got a white lady through online dating and begged her. She help me and I opened a betting shop that is feeding me up to today. If I did not do online dating in December, by this lockdown, I would being eating sand. Don't just eat all the money you get. Start something small.

For those people sending PM and asking me which dating site I used, it is Bit Mistress. See the link in the pic below

Well, i think people should not complain too much on banks as my cousin working in Access bank already mentioned this to me & is praying fervently not to be sacked as the wage cut is inevitable but sack is the worst.

He said for the past month customers were only withdrawing funds from Access Bank & not much deposit were made via cash or cheque lodgement as a lot of their branches operated skeletally.

Obviously we are in for a tough time ahead economy wise but GOD is great & will see us thru this tough times as entrepreneurs

1 Like 1 Share

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Nobody: 11:41am On May 01, 2020
It is the common man that suffers from your stupidity. When you guys were busy donating millions and billions to this failed government did you guys remember that such a thing will happen. Now workers wants to face your foolish gesture to a failed government

1 Like

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by eneyoduke(m): 11:44am On May 01, 2020
Imagine giving out 1 billions plus to the government to loot then sacking/cutting staffs salaries.......... Senseless

1 Like

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by CodeTemplar: 11:45am On May 01, 2020
mvem:
Millions are losing their jobs worldwide. The lockdown will make many companies to lay off workers and banks are inclusive...prepare for difficult times, its a global economic melt down
The equation in the banking sector is a linear one. less business translates to lesser work activities and fewer hands are needed as a result.

1 Like

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by livebyday(m): 11:46am On May 01, 2020
[s]
philip0906:

There will. Banks are been forced to innovate now. What is happening is banks are been forced to move away from their traditional approach to banking e.g banking halls, over the counter withdrawals and so on

This is what Fintechs have been doing e.g Kuda
To catchup and be up to speed with innovation, they'll need new hands just the same way tech companies are in constant need for devs and product people to continually innovate.

There is a huge gap that needs to be filled in the retail space where the unbanked need to carry out transactions without visiting banking halls.

[/s]

You are spitting out theories and no facts for recruitment, nothing new have you stated about changing in banking sector this is old new

1. The economy will fall into a recession. Soonest , no company can post of a profit save for consumables , IT, and telecoms

2. Every company wants to cut costs they will drop staff and down scale ops

3. Stop talking about that which you have no idea , it is not just in Nigeria all over the world work forces are being cut , Microsoft, British airways cut over 600 staff last week, Chevron cut over 1000 last month same with Agip , I could go on and on

You are ignorant of the real world happenings so please shut up

4 Likes 4 Shares

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Deoboss(m): 11:47am On May 01, 2020
phenomental40:
after dem do carry all their money give fg finish now na to dey cut staff salary, dey debit customers unnecessary. that's good for STARTERS

Fed govt will not patronize them if they don’t donate such funds & they were trying to give back to society.

We all don’t know exactly what went behind closed doors with this huge donations as if they were compelled to give fed govt this monies but the after effect of the Coronavirus will be devastating to the economy & people if care is not taken.

Nigeria lost a lot of funds from crude oil poor low sales & even fed govt is merging agencies plus scrapping some parastatals off to cut over head cost so many heads will roll to the un-employment status.

May GOD see us thru this tough trying times
Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by franchuks(m): 11:50am On May 01, 2020
DonMustafa:
It is better to cut staff salaries than to sack them. Even if the staffs will hunt for other jobs, at least something still comes in monthly to pay bills. Complete sack is terrible.

Those of you begging bankers money, you see it is not easy anywhere in Nigeria. That is why I recommend online dating for people who need financial assistance. White people have good hearts. They have pity. They will help you if they have. You never know until you try. If it is only $500 the person sends, this is N200,000. Imagine what N200,000 will do in your life now.

This is what I did last year December when I was broke. I got a white lady through online dating and begged her. She help me and I opened a betting shop that is feeding me up to today. If I did not do online dating in December, by this lockdown, I would being eating sand. Don't just eat all the money you get. Start something small.

For those people sending PM and asking me which dating site I used, it is Bit Mistress. See the link in the pic below

Hmmmmmmm..... Hope the recipients of your advice will not do as below pic;

3 Likes

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by manuel4real(m): 11:50am On May 01, 2020
haryorbarmie83:
what's the difference sir.
would you have preferred to lose all if you were in there shoe? Though the pay may no longer be enough but you can hold on to that while you search for better jobs.
Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Deoboss(m): 11:52am On May 01, 2020
Buharidgeneral:
He don red for Access Bank staff.

Banking job has always been very sensitive sector to work. Any disruptions in there inflow always brutal

That's too bad at this time

May be some of the performing loans are on oil business and since the price isn't doing fine hence the cut down.

Huge losses in oil & gas sector so it’s the virus condition that is bringing recession world wide
Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by abeymanuel(m): 11:56am On May 01, 2020
Even me, where i work as a contract staff we are not to resume until further notice that could be next 6months, May God help us...

1 Like

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Rubzz(m): 11:56am On May 01, 2020
[quote author=chamber2 post=89053335]

Both the topic and the content is misleading. How can a bank sack 75% of it's workforce? How is that possible? People listened to a video without understanding simple statement.

Herbert said, those auxiliary staff constitute 75% of the entire workforce and their contract will be reviewed with their employers to know the number that is actually needed by Access Bank.

Mind you, the bank might end up disengaging only about 30-40% of the contract staff.

For professional staff, he mentioned that the pay cut will be based on level. If the GMD gets 40% deduction then the lowest officer might get like 5% deduction.[/quothi
This is more reasonable to comprihend

2 Likes

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by philip0906(m): 12:01pm On May 01, 2020
livebyday:
[s][/s]

You are spitting out theories and no facts for recruitment, nothing new have you stated about changing in banking sector this is old new

1. The economy will fall into a recession. Soonest , no company can post of a profit save for consumables , IT, and telecoms

2. Every company wants to cut costs they will drop staff and down scale ops

3. Stop talking about that which you have no idea , it is not just in Nigeria all over the world work forces are being cut , Microsoft, British airways cut over 600 staff last week, Chevron cut over 1000 last month same with Agip , I could go on and on

You are ignorant of the real world happenings so please shut up
I have quoted you twice without sounding brash or throwing tirades. I have not insulted you either in any of my posts but since you want to go that route, leggo

1. Yes the economy is already in recession BUT companies are still posting profits. Say what you know. Some fintech/payment companies in the forex business, are making a kill
2. Every company scaling cost is relative to their revenue. Nobody will reduce overhead when the bottomline is not impacted or at risk of been imparted. I work in an international tech company, we're not scaling costs or retrenching..
3. Shut your mouth up and say what you know. The companies you listed have direct hit because of the nature of their business. Oil prices are down, so is demand. It makes sense to cut cost. The airspace has been shut for weeks, meaning no money is coming in for airlines.So your comparison, holds no water...

Let me lecture your block head...With every challenge, comes innovation. Every one is been forced to innovate, including the banks. Companies are still raising funds. Head to techcrunch and see companies doing seed, series etc They are not your traditional oil & gas companies or airlines

A Nigerian tech company Okra, raised $1 million un funding during this covid-19 pandemic. They are currently hiring. The only companies that will survive are those who have embraced innovation and change a long time ago. We have been shouting cashless for years but we still use banking halls. Now this virus will force that change and life goes on

5 Likes 2 Shares

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by vGerizued(m): 12:03pm On May 01, 2020
Access bank donates huge sum of money to FG who apparently don't need money but can't retain 'non-essential staffs' cuase of fund... smh
Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Lastanza: 12:05pm On May 01, 2020
9jaRealist:


Not just Nigerians, I’m afraid...
The ENTIRE WORLD is due some pain, some more than others though.
>



I’m afraid that Nigeria doesn’t have money to share among its citizens, because Nigeria is actually a POOR country (as much as people do not want to face reality and our rulers behave otherwise). In many of those countries, laid-off workers are only getting benefits from unemployment INSURANCE (which means they made payments from their wages), and in other countries most citizens actually pay their full taxes as and when due, giving the government more revenue to build and sustain a social safety net. Here, everyone is looking share money but no one contributes.
>
I'm not in support of our dilapidated tax system but I tell u, the money we generate from our natural resources can take care of our current and unforseen problems if well managed.

How much is talked about taxation in Saudi Arabia and other oil rich nations. They basically takes care of themselves with proceeds from oil not to talk of other abundant natural resources here.

2 Likes

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Holamilekan97(m): 12:07pm On May 01, 2020
Nigeria is a mess.

1 Like 1 Share

Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by Nobody: 12:14pm On May 01, 2020
jasmine1600:
Nigerians don’t even know the present harsh economic situation they are in.
Expect other institutions to follow suite.
We presently have a government tht have ran out of propaganda, tht don’t even kn how to face the problem squarely.
shebi people where sayin make govt continue the lockdown, they go feel the heat. If by June your condition still dey intact in your place of work then know dat i m not sane in mind.
Many companies go start cut down measures to forestall crises
Re: Access Bank To Cut Staff Salaries, Retrench 75% Of Workers by NothingDoMe: 12:19pm On May 01, 2020
majamajic:
I was talking with one salary earner , he said he wish the lockdown never ends , he was full of confident

I laughed him ,
Cos they've been relaxing at home.

1 Like

(1) (2) (3) ... (5) (6) (7) (8) (9) (10) (11) (Reply)

Caesar Chukwuma Nigerian Lawyer In USA Melting Hearts Of Ladies. Photos / Photos Of Twitter Staff Before And After Elon Musk / Meet Ebere Asonibe, A Graduate Who Is A Native Doctor

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 72
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.