"It won't be just Access Bank, other big companies will follow suit." Twitter users explain that the economic implication of the pandemic makes retrenchment inevitable

Twitter users have reacted to the proposed mass retrenchment of Access Bank essential service providers by explaining that it’s inevitable and other large corporations will have no choice but to follow suit.

Access Bank is currently the number 1 trending topic on Twitter as Nigerians took to the platform to state that such is the outcome when there’s a pandemic.

Due to the COVID-19 pandemic and the resultant lockdown, most organizations – including banks, hotels, schools, and event centers – are not operating at full capacity. This means that not all staff will be needed as most branches are closed.

Working from home has made some staff such as tea girls, security men, office assistants, and cleaners redundant.

Also, as most businesses are now making little to no profit due to the lockdown, it is not sustainable to pay staff full salaries.

Nigerians have opined that this means Access Bank will not be the only corporate organization letting go of staff who provide “non-essential services”.

@thefaridaadamu wrote: “Again, I’d love to hear the expert opinions of those who think the Access Bank MD made a wrong call. What should he have done instead? Serenade us with your financial and business literacy.”

@Bon_Vin wrote: “Smh it won’t be just access bank. The hacksaw will go round”

@_Adadioranma wrote: “Truth is whether Access bank made that donation or not, they would’ve still had to downsize. These are simply the economic implications of this pandemic. Chances are other large corporations will follow suit if things don’t improve. These are hard times for everyone.”

Below are reactions from Nigerians warning of what is to come.