Re-positioning Strategy: Unity Bank Sacks 215 Workers


Unity Bank Plc, has yesterday sacked about 215 of its employees in its ongoing re-engineering strategy for greater performance.

The bank’s human capital department informed the affected staff of the retrenchment yesterday, advising them to hand the bank’s belongings in their possession.

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It was gathered that the workers were sacked for their inability to cope with the new ideas and strategy of the institution.

The affected staff are said to comprise of branch managers, staff in the debt recovery department, senior banking officers (SBOs) and Zonal legal officers.

Unity Bank
Oluwatomi Somefun, CEO Unity Bank Plc

Unity bank is said to have made significant strides in its repositioning drive with the attraction of specialist skills to its workforce since the relocation of its head office from Abuja to Lagos in sync with its plan to grow market share in viable clusters of the retail market.

A management source also said about 200 new hires been recruited by the Bank to drive the transformation initiative which was began by the Management in the last one year while about 100 other staff were said to have been promoted recently.

He added that allowing the 215 staff go will enable the Bank realign its operation to pursue its long term growth strategy.

The affected staff  are however, said to have exercised the option to resign while Management has approved severance package in line with the bank’s policy.

Another source close to the Bank said the new focus of the Business has led to significant enhancement of human capital in its various business units.

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“This is with a view to injecting fresh ideas, initiatives and energies to strengthen the various departments of the bank with capabilities to pursue the attainment of strategic business focus in the Agricultural financing, retail/SMEs and development of rural economy.”