TheCable

Four months after Skye Bank Plc sacked 175 of its staff, it has terminated the appointments of 50 staff who were either auxiliary or outsourced employees.

According  to PUNCH, the affected staff were tellers, drivers and and security guards.

Some of the reasons given by the organisation were “right sizing, non-performance and other disciplinary issues”.

The bank said it is committed to running a lean and efficient organisation in order to cut cost.

“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,” the bank said in a statement.

It thanked the staff who were retrenched and appreciated them for the time spent in the organisation.

The bank’s management reportedly approved payment of entitlement and severance packages.

Four months ago, the bank retrenched 175 workers saying they failed the appraisal exercise and had to be let go in line with the bank’s staff exit policy.

“The staff disengagement exercise is coming a year after the bank’s successful integration with the erstwhile Mainstreet Bank, which it acquired in October 2014; the integration exercise described by analysts as a landmark in Nigeria’s banking industry has significantly improved Skye Bank’s ICT capacity and helped strengthen the bank’s service delivery,” the bank had explained in a statement