Zenith Bank Plc, Nigerian’s largest bank with current shareholder base and the biggest Bank has slashed its worker’s salaries by 30% despite declaring huge profit at last financial report.
A staff who did not want his name mentioned told Pulse Nigeria that he and others woke up on August 24, 2016, the date that salaries for the month were to be paid, to notice a cut in the wages without prior notice to that effect, with some senior staff getting as much as N72,000 deducted.
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“My email should not be public because I am a staff of the bank involved. As at today, 24th August 2016, being the pay day, Zenith Bank has slashed down staff salary without prior notice or official memo.
Although the non-professional staff/contract staff salary wasn’t affected, this is not the right way to go in this harsh economic situation in the country.
Please find below the amount deducted and level: Assistant Manager; (N72,000); Executive Trainee (N3,000); Executive Assistant (N10,000); Senior Executive Assistant (N30,000); Assistant Banking Officer (N40,000); Banking Officer (N50,000)”, he said in a email note
We are unable to ascertain the actual figure of those affected, with initial report claiming no fewer than 1,200 were involved from all the bank’s branches, while a source close to the bank told Premium Times that about 240 people, including eight General Managers and 40 Assistant General Managers, were affected.
What is, however, clear is that the action swept away most of top management staff in a deliberate attempt by the bank to drastically cut down on its top heavy management structure.
Zenith Bank Plc, Nigerian’s largest bank with current shareholder base and the biggest Bank has slashed its worker’s salaries by 30% despite declaring huge profit at last financial report.
A staff who did not want his name mentioned told Pulse Nigeria that he and others woke up on August 24, 2016, the date that salaries for the month were to be paid, to notice a cut in the wages without prior notice to that effect, with some senior staff getting as much as N72,000 deducted.
Join Our BBM Channel For Latest Updates.
“My email should not be public because I am a staff of the bank involved. As at today, 24th August 2016, being the pay day, Zenith Bank has slashed down staff salary without prior notice or official memo.
Although the non-professional staff/contract staff salary wasn’t affected, this is not the right way to go in this harsh economic situation in the country.
Please find below the amount deducted and level: Assistant Manager; (N72,000); Executive Trainee (N3,000); Executive Assistant (N10,000); Senior Executive Assistant (N30,000); Assistant Banking Officer (N40,000); Banking Officer (N50,000)”, he said in a email note
No official statement from the Bank yet.
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