STANBIC IBTC LAY OFF 250 STAFF, VISA PHONE 60

Yesterday, VisaFone laid off 60 of their staff nationwide and Stanbic IBTC also fired 250 of their staff. The sack take effect from today, May 1st, 2013, which happens to be workers day. The sack by Stanbic IBTC cut across all levels, from management staff to lower staff. The bank still plan to lay off more staff before the end of the year.

The people affected in Stanbic IBTC are full staff employees as the bank intends to make its major workforce 20% permanent and 80% contract staff. This isn't right at all, knowing fully well the alarming state of unemployment in the country and these companies are still laying off staff, not fair at all.