Financial institution, Ecobank is ruthlessly cutting costs.
‘’it is the management's approach to battle economic recession’’ a
source provided reasons.
Information available have it that the
strategy revolves around putting
ceiling on costs, to cage ballooning expenses in face of rising prices of
products and services.
One of areas affected is said to be the policy of handing out brand new
cars to directors and related top shots as perks of office, at intervals.
‘’all that is gone...the new unspoken rule if maintenance of whatever
you have till further notice’’ a source stated.
Checks revealed the prices of cars have tripled in the last one year.
And the bank doesn’t rank in the league of ranking financial
institutions able to absorb such an increase, as well as other doubled prices
for ''same'' services.
Digs revealed rather the financial institution fighting hard stay afloat
in the highly competitive banking industry as put on the ‘’squeeze’’ on
marketers and other cadre of staffers to bring in more businesses in bid to
increase revenue.
This move is against the background of sack of workers across board as
part of attempts to reduce salary weight and related bills
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