Access Bank, which acquired Intercontinental Bank not too long ago, has laid off 160 staff.
We gathered that the affected workers were sacked earlier this week for failing to meet up with target set by management of the bank under the frightening management parlance, Operation Just Cause, OJC. Sources told our correspondent that the sacked staff failed to at least 100 percent by way of profit set for them at the beginning of the year.
Access bank, we are told has very aggressive management staff that set crazy and sometimes impossible targets for members of staff who are often overworked into the night, weekends and holidays before leaving office.
We gathered that some of the staff at head office and other offices in Victoria Island, close as late as 10 PM before leaving office even when their letters of appointment says they are required to close work by 5PM Mondays to Fridays.
The sacking is coming even after most of the staff have resigned to pick up appointment in other banks seen to be better paying and with less aggressive management staff.