Nigeria’s topmost banks, has announced a 40 per cent pay cut while also
slashing the salaries of his over 30,000 workforce.Wigwe said the pay slash has become necessary in view of the global
economic meltdown caused by the Coronavirus pandemic.
“The pay cut will ensure that there are no job losses, while we continue
to keep our obligations to our employees and customers worldwide.”
He said the Bank has no intention of sacking workers but would rather
urge employees to take pay cuts so as to keep costs down as the pandemic
continues to disrupt the global economy.
Beginning May 1, 2020, employees of Access Bank, will take a pay cut as
the coronavirus hampers economic activity in the country.
Businesses globally are losing money as a result of the pandemic.
American Airline lost $2.2billion, while Delta Airline and Southwest
Airline lost $534million and $94million respectively.
In Nigeria, top companies are either sacking, or slashing salaries to
keep costs down as the coronavirus pandemic continues to disrupt global
trade and commerce.