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BREAKING: Skye Bank Sacks 50 Workers

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By Dipo Olowookere

No fewer than 50 persons in the payroll of Skye Bank have been asked to leave the company, Tribune is reporting.

It was reported that the affected employees are in the outsourced and auxiliary functions of the financial institution, which according to a recent report by Bloomberg, was close to being insolvent.

Reports say the dismissed workers were showed the exit door based on performance, disciplinary issues as well as right sizing.

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However, the numbers of the affected non-core staff were not stated since they are not direct employees of the bank.

Most of the affected are Staff in Outsourced Functions (SOF) comprising Tellers, Drivers and Internal security guards.

The Management of Skye Bank, it was learnt, had also approved payment of generous entitlement and severance packages to those affected as contained in their engagement letter and as agreed with the workers union.

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The bank thanked the affected staff and expressed its appreciation for their work while in the employment of the organisation.

It would be recalled that part of the mandate of Skye Bank’s re-constituted Board is to run a lean and efficient organisation, control cost, aggressively recover debts owed by debtors and grow deposit liabilities and shore the liquidity position of the Bank.

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Skye Bank, designated by CBN as one of Nigeria’s eight Systemically Important Bank (SIB), is one of Nigeria’s leading retail and commercial banks with over 373 branches and cash centres across Nigeria offering premium financial services, with subsidiaries in the West Coast of Sierra Leone, The Gambia and Guinea.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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