Mass Layoff in Nigerian Banks!

A lot of economies in the world have being affected by the recent global economic recession. As a result most countries affected cannot boast of JOB SECURITY for its citizens be it in the private or public sector. Particularly affected  by the recession are developing countries, of which Nigeria is one.

Except maybe those working in Government parastatals or those who are self employed, very few Nigerians can boast of Job security. In recent times, the banking sector in Nigeria can be said to have the highest sack rates as far as skilled labor is concerned.

 

Naija Hottestgist has has being reliably informed that just last week three banks has again laid off a large no of its staff. Mainsteet bank laid off 700 people, Skye bank 500 and Ecobank 400.

Ironically, the banking sector  recruits a lot of people particularly young graduates every year. Yet this same sector is notorious for massive layoffs. My question then is why give people jobs only to take it back? How are the now jobless 1600 people expected to survive? So many questions, very few answers.