As the recession hits hard on the economy, the Unity Bank Plc has reportedly sacked 215 of its staff. The bank laid off the employees on Wednesday over alleged inability to cope with the new ideas and strategy of the company.
According to a source close to the bank, about 200 new hires were said to have been recruited by the bank to promote the transformation initiative that was initiated by the management within the past year.
"Some members of staff numbering about 215 have been allowed to go in an exercise that will enable the Bank realign its operation to pursue its long term growth strategy. However the affected staff were said to have exercised the option to resign while Management has approved severance package in line with the bank’s policy," Vanguard was told.