THE GLOBAL FINANCIAL CRISIS HAS FINNALY TAKING TOLL ON OCEANIC BANK, IN THE LAST 30 DAYS THE BANK HAS LAID OFF OVER 1500 STAFF OF THE BANK, THE NUMBER IS STILL RISING, AS MORE AND MORE LETTERS ARE BEING ISSUED.
THE WORST AFFECTED ARE THE MARKETING STAFF AND THE CONTRACT STAFF(BULK TELLER, FRONT TELLERS, SECURITY ETC), EVEN SOME OF THE MANAGEMENT STAFFS THAT WERE RECENTLY IN POSITIONS LIKE ZONAL HEADS, REGIONAL NAMGERS ARE ALSO EFFECTED.
IN JUST LAST WEEK ALONE 425 STAFFS WERE SACKED AND THE NUMBER WILL BE HIGHER THIS WEEK COS, MORE LETTERS HAVEARRIVED BRANCHES.
IT IS OBVIOUS THE BANK CANNOT MEET UP WITH THE HIGH PAY PACKAGE, AND THEREFORE THEY HAVE TO SACRIFICE STAFFS. UNLIKE ZENITH AND INTERCONTINENTAL, THAT SLASH SALARY TO SURVIVE THE MELTDOWN, OCEANIC BANK HAS DECIDED TO MAINTAIN ITS PRIDE (HIGHEST PAYING BANK) AND LAY OFF STAFF, SO UNFORTUNATE.
IT IS SO WORRISOME, COS IT TOOK THE BANK OVER 6 MONTHS TO RELEASE ITS LAST YEAR FINACIALS AFTER SEVERAL PRESSURE FROM ITS SHARE HOLDERS. DECALRING N9B PROFIT AFTER TAX AS AGAINST N43B THE PREVIOUS YEAR.
THOSE OF US THAT ARE IN THE SYSTEM KNOW THAT THE BANK ACTUALLY MADE A LOSS BECAUSE, THE GROSS PROFIT WAS N63B AND BANKS HAD TO MAKE PROVISION FOR THE MARGIN LOAN WHICH WAS OVER N73B IF YOU NET THAT, IT WILL FIVE U A N10B LOSS.
NO DOUBTWE ARE HEADING FOR THE ROCKS. OCEANIC BANK CANNOT SURVIVE DECEMBER 2009. THOSE OF US IN THE SYSTEM KNOW THAT WE CANNOT BE IN TH BANK COME OCTOBER COS B/W NOW AND THEN 5800 STAFF WILL BE LAID OFF FORM ITS EXISTING 7500 STAFFS. CONFIRMED REPORT FORM THE HUMAN RESOURCE DEPARTMENT.
FOR YOU BELOVED DEPOSITOR, BE CAREFUL.
