Explaining the economic implications of the pandemic, Twitter users believe that Access Bank’s proposed mass retrenchment of essential service providers is inevitable and that other large corporations will have no choice but to do the same.
Nigerians have taken to Twitter where Access Bank is currently the number 1 trending topic, stating that such actions are to be expected during a pandemic.
The COVID-19 pandemic and resulting lockdown have led to reduced operations in various sectors such as banking, hospitality, education, and events. Consequently, many organizations are not operating at their full capacity, leading to a reduced need for staff as numerous branches remain closed.
Remote work has also rendered some roles such as tea girls, security personnel, office assistants, and cleaners redundant.
Furthermore, with businesses experiencing minimal to no profits due to the lockdown, it is becoming increasingly unsustainable to maintain full salaries for all staff.
This has led to the belief among Nigerians that Access Bank is just the beginning, as other corporate organizations will also let go of staff providing “non-essential services”.
Individuals such as @thefaridaadamu and @Bon_Vin have expressed opinions on the matter, with many anticipating similar actions from other corporations if the economic situation does not improve.
Reactions from Nigerians warning of similar actions to come can be found below.
