DIAMOND Bank Plc has sacked 200 staff, justifying the sack as being in line with its strategic plan to drive shareholders’ value.
The statement from the lender reads: “Diamond Bank recently right sized its workforce. The right sizing was a core strategic exercise in line with the bank’s growth objective and the will to continue the drive to optimise cost and enhance value for the shareholders at the end of the business year. “In the bank’s last appraisal, only 200 staff whose performance scorecards were adjudged to be lower than the minimum required to drive its strategic growth plan for the business year were relieved, with the opportunity to seek employment in other organisations where their respective skills set and individual performances could be enhanced and optimised.
“The yearly appraisal is a general industry standard and enables banks to prune their workforce and prudently allocate resources for optimum result.
“Diamond Bank is not an exception in the industry and therefore, had carried out its annual appraisal and found the performance of members of staff that were relieved to be below the required minimum performance level that would sustain them in the system.
“With its trim-and-fit workforce, the bank is sure to meet its target for the current business year.”

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