Sun. Oct 25th, 2020

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Banks, companies reduce workers salaries

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From the information gathered so far from Punch,it indicates that Diamond Bank Plc, Heritage Bank Plc, Zenith Bank Plc, First Bank Plc and Wema Bank Plc have all reduced their workers’ salaries as of August 31.

While Diamond Bank and Heritage Bank were said to have slashed salaries by 30 per cent, First Bank and Wema Bank reportedly slashed workers salaries were by 20 per cent each. The banks decision were made in order to meet deposit targets, which have become high in recent time. Hence, workers who failed to meet their targets had their salaries slashed. The report also revealed that the same decision has been taken in some insurance companies. Before now, the marketing departments of the underwriting firms and insurance agents were responsible for generating premium for the companies, but it has been extended to all employees. Sources quoted said insurance workers in the marketing department who failed to meet their premium targets also had their salaries slashed. “Before, it was only the marketers that they used to give targets to. Now, some of us also have targets ranging between N40, 000 and N100, 000 monthly and our promotion and salaries are tied to our performance,” an insurance worker squealed. A worker in one of the new generation banks also said she resumed work after her annual vacation only to discover that she didn’t get the same salary that she had always received. “There is perpetual fear in all banks. Every category of workers in the banks is affected by the economic crisis,” another bank employee noted.

hmm,wahat do you think is the hope of our Bankers and aspiring Bankers??? street ni take over!!!lol

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