The Central Bank of Nigeria (CBN) recently downsized over 200 of its workers from different parts of the bank in a big reshuffle.
The downsize was carried out by different departments like Human Resources, Development Finance, Trade and Exchange, Financial Policy and Regulation, and Procurement and Support Services of the bank, on Friday
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Stating the reason for the downsize to be human capital restructuring
“The CBN attributed the layoffs to a “significant organizational and human capital restructuring process” aligned with the bank’s recently publicized strategic direction and its new mission and vision.”
The CBN said they did this to reorganize the bank according to their new plans and goals. They said it’s part of a big restructuring process.
Many workers were surprised when they got letters saying they were fired with immediate effect
The impact of these job cuts is still uncertain. Even though the CBN says it’s part of their new strategy, it’s likely been tough for the workers who lost their jobs.
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