Herbert Onyewumbu Wigwe who is from Omueke Isiokpo is a Nigerian banker and entrepreneur.

He is currently CEO and Group managing director of Access Bank plc, one of Nigeria's top five banking institutions, after succeeding his business partner, Aigboje Aig-Imoukhuede in January 2014.

However, Herbert Onyewunmbu Wigwe has taken to an Instagram page to announce that 75% of Staff Lay Off & Salaries Cut, he emphasizes on the resumption of some staff, the ones that are necessary for now.

Watch the video below:

https://www.youtube.com/watch?v=7kK4v8tolmI

I really doubt this your story.

bigiyaro:
I really doubt this your story.

It's currently going down oo, OP is 100% right. A close relative just lost her job with them.

More to follow from other banks and private institutions.. Before this economy can balance it will take 2-3years

DASKACE:


It's currently going down oo, OP is 100% right. A close relative just lost her job with them.

who drops 75% of its workforce in one fell swoop? so the remains 25% will now do the work of the 75% that left, I think access bank just want to use this situation to exploit, overwork and enslave its workers.

Askme2020:
More to follow from other banks and private institutions.. Before this economy can balance it will take 2-3years

Everything In This Nation Is Just Upside Down.Only God Will Help Us.Just Imagine If All Private Institutions Begin To Sack Their Members.

ollyjoseph:

Everything In This Nation Is Just Upside Down.Only God Will Help Us.Just Imagine If All Private Institutions Begin To Sack Their Members.

That is another recession bro.. And this one will be long. Imagine Access bank laying off 75% of their staff. If all other banks follow their steps na big recession be that ooo.

bigiyaro:
who drops 75% of its workforce in one fell swoop? so the remains 25% will now do the work of the 75% that left, I think access bank just want to use this situation to exploit, overwork and enslave its workers.

U don't get the logic here bro.. With them laying of 75% of their current staff. They will employed around 40-60% more to be train by the remaining 25% left.. And the salary of the new employed 40-60% will be around 50-60% less from the 75% that were lay off initially. 25% can't do the job of 75% na.. Na wickedness be that na.

This type around banks will be looking for contract staff.

Askme2020:


U don't get the logic here bro.. With them laying of 75% of their current staff. They will employed around 40-60% more to be train by the remaining 25% left.. And the salary of the new employed 40-60% will be around 50-60% less from the 75% that were lay off initially. 25% can't do the job of 75% na.. Na wickedness be that na.

This type around banks will be looking for contract staff.

you mean, you have a staff that you pay 100k, he's been working with you for the past 7 years, then you sack him to employ a new staff because you want to save 50k and pay the new staff 50k, the old staff goes away with his loyalty and expertise, it makes no sense to me since wages can be renegotiate with the old staff and you can still maintain the same level of productivity. in any case the bank is just been wicked and greedy.