Heritage Bank Plc has spoken out on the mass retrenchment of its 400 workers, saying that it is restructuring its workforce.
Heritage Bank Plc
We reported on Monday
that Heritage Bank Plc has embarked on mass retrenchment of its workers
with 400 staff sacked in December, and that investigations by the News
Agency of Nigeria (NAN) on indicated that more workers are penciled for
sack.
In a statement by signed by it's spokesperson, Fela Ibidapo, the
Bank says it is true that it is restructuring its workforce, but it is
also “adequately compensating” affected members of staff.
“The restructuring processes was to up scale the institution’s
activities in the strategic sectors of the economy as well as
concentrating on and deploying its expertise and competences to specific
business areas where it enjoys comparative business advantage,” the bank said.
The bank hinted that the recent restructuring came after it
reviewed senior staff bench strength and industry standards, and
realigned certain roles bank-wide, adding that it elevated some members
of its workforce with higher responsibilities, which is in line with its
ongoing determination to re-position.
“The vibrant workforce will enable the bank achieve its vision
of being the Nigerian most innovative banking of choice in service
delivery, superior returns to its various stakeholders and as well
contribute to the growth of the nation’s economy.
“This position is buttressed by the fact that the bank is
well-known for supporting small businesses, which is another way of
bringing as many small businesses as possible together in a bid to add
value to MSME sector of the economy,” Heritabe Bank said.
Speaking further, the bank said it had “deliberately focused on
the SME segment in a bid to create a fresh set of vibrant entrepreneurs
that will create jobs and distribute wealth in the Nigerian economy
because of recent statistics, which indicate high unemployment among the
youths that make up a large percentage of the population.”
One of its initiatives in the MSME sector is its partnership with
the Central Bank of Nigeria (CBN) and the National Youth Service Corps
(NYSC) under the N3billion CBN Youth Innovative Entrepreneurship
Development Programme (YIEDP), which is targeted at youth, particularly
current National Youth Service Corps members and those within five years
of post-service exit.
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