Heritage Bank has embarked on mass retrenchment. 400 staff were sacked in the month of December.
According to the report we got today, The management has indicated that more workers are penciled for sack.
A top management source in the bank, who pleaded anonymity, revealed that the sack cut across the top, middle and low cadres.
He said that the mass sack was creating apprehension and fears among the remaining workers
Heritage bank embarked on the massive sack in spite of the Minister of Labour, Dr Chris Ngige’s directive to financial institutions to desist from the sacking spree.
There have been media reports of the bank’s financial instability which the bank consistently denied.