Breaking: FCMB’s Credit Direct Sacks 103 Staff

The management of Credit Direct Limited, a member of the First City Monument Bank (FCMB) Group, has this morning sacked at least 103 staff.

The action, Newscarte gathered, is a result of the COVID-19 lockdown effect on the institution.

“After months of careful review and with the knowledge that the impact of Covid and low economic activities are not yet behind us, we are left with few choices.

“There are four key decisions that management has made to ensure that rather than shrinking because of the effect of Covid, we evolve into a more formidable organization as we approach the future,” an internal memo signed by Oluwatosin Oyebola, Divisional Head, People Management of Credit Direct reads in part.

The loan firm thereby added that the sacked staff will be paid one month salary and be allowed to use their HMO till the end of the year, while severance package will be paid to affected staff who have spent two years and above with Credit Direct.

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