Access Bank notifies staff of decision to cut salaries

May 2, 2020 Sam Gabriel BANKING
Full list of 346 Access Bank branches shut down Nationwide
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Access Bank notifies staff of decision to cut salaries –  Access Bank Plc has notified its staff of its decision to cut salaries to avoid job cut as a lockdown to contain the coronavirus hampers the operations of Nigeria’s biggest lender.

A report by Bloomberg indicated that the salary cut is expected to start from May unless business conditions improve, said the people, who were briefed on the matter during a conference call and asked not to be identified because they’re not authorized to speak publicly.

“Some management will get as much as a 40% decrease.” they said.

A staff of the bank, who spoke to Daily Trust on the condition of anonymity said: “We were only informed on Wednesday that we will take a pay cut and that has dampened the spirit of most staff but it is better than a sack. “They told us that we are currently living in an uncertain time and the bank is challenged in many front haven only recently acquired another bank and managing the risk acquired”, the staff added.

Access Bank notifies staff of decision to cut salaries
Access Bank notifies staff of decision to cut salaries

The bank’s Head, Corporate Communications, Ogechi Nwoye, could not be reached for comment as he did not respond to call and  text message send to his phone.

Nigerian banks are facing the threat of rising bad-debt levels as a crash in oil prices and the risk of a naira devaluation coincide with the Covid-19 pandemic that has shuttered businesses.

Access Bank, which acquired Diamond Bank Plc last year, had 6,898 permanent staff at the end of 2019, according to a presentation on annual report. The acquisition partly contributed to a 31% increase in operating expenses. Personnel, recruitment and training costs account for more than a third of overheads after the deal boosted employee numbers and resulted in “wage harmonization” across the businesses.

About Sam Gabriel 550 Articles
Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

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  596. *GOOD DAY MA/SIR*

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    ₦1,000,000—₦2,000,000

    NOTE: we credit your account after 45min after registeration.

    INTRODUCTION
    Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    CONTACT NAME:- ELIZABETH TINA

    HOT LINE:+2349036369810

    ITS SIMPLE HERE !!!!!!!
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  601. *GOOD DAY MA/SIR*

    Have you had about *LAVITA RICCA INVESTMENT* ? am not talking about MMM or Ponzi SCHEME
    lavita is a matrix system which give you DOUBLE of your CAPITAL back in (45 min) after registration

    LAVITA PACKAGES

    ₦10,000——–₦20,000❌❌❌
    ₦20,000——–₦40,000
    ₦40,000——–₦80,000
    ₦50,000——–₦100,000
    ₦100,000——₦200,000
    ₦200,000——₦400,000
    ₦400,000——₦800,000
    ₦800,000——₦1,600,000
    ₦1,000,000—₦2,000,000

    NOTE: we credit your account after 45min after registeration.

    INTRODUCTION
    Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    CONTACT NAME:- ELIZABETH TINA

    HOT LINE:+2349036369810

    ITS SIMPLE HERE !!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 20k within 45mins we make profit of 60k then send 40k to you then profit 20k. This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly.

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    Note:you get credited in less than 45mins.

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    NOTE: we credit your account after 45mins of Your Registeration
    INTRODUCTION
    LAVITA TRUST Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

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  603. GOOD DAY SIR/MA

    HAVE YOU HELD ABOUT LAVITA TRUST INVESTMENT…?

    LAVITA TRUST INVESTMENT is a matrix system which give you DOUBLE of your CAPITAL back in ( 45 Minutes ) after Registrations

    LAVITA PACKAGES
    N20,000——N40,000
    N40,000——N80,000
    N50,000——N100,000
    N100,000—–N200,000
    N150,000—–N350,000
    N300,000—–N600,000
    N200,000—–N400,000
    N400,000—–N800,000
    N500,000—–N1,000,000

    NOTE: we credit your account after 45mins of Your Registeration
    INTRODUCTION
    LAVITA TRUST Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

    09068834101

    ITS SIMPLE HERE!!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 100k within 25mins we make profit of 300k then send 200k to you then profit 100k This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly

    Contact Mrs. FUMI BLESSING
    09068834101

    NOTE:- YOU GET CREDITED BACK IN LESS THAN 45 MINUTES.

    CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

    NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem.

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