Heritage Bank: Sacked Staff Were Adequately Compensated
The management of Heritage Bank Plc has explained that as part of ongoing restructuring exercise, it relived 400 of its workforce, and adequately compensated affected members of staff.
Head, Media and Publicity of the bank, Fela Ibidapo, said this was done “as part of efforts geared towards greater efficiency and resource optimization, in line with its growth and industry innovative agenda.”
Ibidapo in a statement said: “The restructuring processes was to up scale the institution’s activities in the strategic sectors of the economy as well as concentrating on and deploying its expertise and competences to specific business areas where it enjoys comparative business advantage.
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“The vibrant workforce will enable the bank achieve its vision of being the Nigerian most innovative banking of choice in service delivery, superior returns to its various stakeholders and as well contribute to the growth of the nation’s economy,” Heritabe Bank said.
“This position is buttressed by the fact that the bank is well-known for supporting small businesses, which is another way of bringing as many small businesses as possible together in a bid to add value to MSME sector of the economy.”
The statement also stressed that it had “deliberately focused on the SME segment in a bid to create a fresh set of vibrant entrepreneurs that will create jobs and distribute wealth in the Nigerian economy because of recent statistics, which indicate high unemployment among the youths that make up a large percentage of the population”.
One of its initiatives in the MSME sector is its partnership with the Central Bank of Nigeria (CBN) and the National Youth Service Corps (NYSC) under the N3billion CBN Youth Innovative Entrepreneurship Development Programme (YIEDP), which is targeted at youth, particularly current National Youth Service Corps members and those within five years of post-service exit.
