The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has decried massive retrenchment of workers and closures of companies as a result of the economic recession in the country. President of the union,Comrade Oyinkan Olasanoye told journalists in Lagos yesterday that such measure would not nip recession in the bud and spur economic growth in the country.
“ASSBIFI believes that these derivatives should not be seen as the solution to the present problems.We believe that there are ways employees and employers would not suffer during these critical periods of economic crisis without burning each other.
“We believe that instead of lamenting over this present Nigeria macroeconomic crisis which has an adverse effect on our sector,we should use the opportunity to reinvent our strategic partnership.This,ASSBIFI believes,will enhance relationship,attitudes and staff welfare for improved productivity and better deal for all stakeholders”.
