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 thestrategy 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