88 Stanbic Bank employees have accepted the Voluntary Early Retirement package offered by the bank.
The move comes at a time when the financial institution is implementing a restructuring programme as it seeks to offer better services to its clients.
The bank now has an employee base of 1,000 out of the 1,088 employees who were part of its team in the last financial period. 135 employees had applied for the voluntary early retirement package but only 88 qualified for the same.
The bank's management has reiterated its commitment to deliver quality services to its customers. The lender has also revealed that it will be equipping employers with skills and enhanced professional knowledge as part of its efforts to digitise its operations.
“We are in the process of transforming our people into the new generation of bankers of the future, with superior skill-set, enhanced professional knowledge and a culture that supports diversity. A fundamental part of our Digital strategy is to create new jobs in different areas of the bank,” read a statement from the bank earlier in the month.
The management has assured its customers and shareholders of improved efficiency as far the delivery of services is concerned. The population of employees had risen by 3 per cent in 2018 after several workers were recruited in different positions.
Reports in the media had earlier indicated that the bank plans to lay off 225 employees in a bid to reduce operational costs.