|No More Brand New Cars For Directors, Other Top Shots As Ecobank Puts Ceiling On Costs In Battle To Survive Economic Recession|
|Financial institution, Ecobank is ruthlessly cutting costs.|
‘’it is the management's approach to battle economic recession’’ a source provided reasons.
available have it that the strategy revolves around putting ceiling on
costs, to cage ballooning expenses in face of rising prices of products
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.|
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
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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