The management of Consolidated Bank Limited has said it is offering career training to its staff who may be retrenched due to ongoing efforts to “rightsizing the branch network.”
In a statement copied to citinewsroom.com, the bank said that it is making all efforts to ensure that its staff retrenchment exercise does not result in undue hardship on those affected.Recent media reports indicated that the Consolidated Bank, which was registered to take over five (5) distressed local banks, was relieving up to 1,700 staffs of their duties.
The move is to ensure that the bank is not overstaffed and operated efficiently with the right number of staff.
But the bank has said while it admits that some staff will lose their jobs due to the ongoing strategic processes, it is putting in place measures to ensure that those affected are not severely distressed financially.
It said it was therefore finalizing plans to help the affected staff to transition into other economic activities which will enable them render other outsourced services to the bank.
Read the statement below:
The Management of Consolidated Bank Ghana Limited (CBG) has taken notice of reports in the media about massive lay-offs to be effected by the bank, as part of efforts to implement the Purchase and Assumption transaction it undertook following the recent distress of five (5) banks.
CBG informs the general public that it has established an integration roadmap with the objective of rightsizing the branch network and rationalizing headcount amongst others.
Whilst this may involve some reduction in headcount, management is taking steps to ensure that this does not impose undue hardship on its staff.
A core part of this integration and rationalization exercise is career training programs for all staff who may be exited as a result.
CBG is also finalizing a plan for affected staff to transition to other economic models which will enable them provide essential outsourced services to the bank where appropriate.
CBG is an indigenous bank with a strong balance sheet, well-positioned to protect the best interests of our depositors and staff. We look forward to an enduring partnership with all our stakeholders and to building an entity that will transcend this generation.
Which banks did Consolidated bank take over?
The Consolidated Bank was formed from Royal Bank, Beige Bank, Construction Bank, Sovereign Bank, and uniBank.
Who are those affected by the staff retrenchment?
The affected workers include 700 mobile bankers of the erstwhile BEIGE Bank, while 1,000 are former employees of the Royal Bank, the Construction Bank, uniBank and the Sovereign Bank.
According to the state newspaper, Daily Graphic, the bank’s current operational cost is about GH¢60 million per month and a reduction in the staff strength by a minimum of 1,700 will help it reduce the cost.
–
By: Jonas Nyabor/citinewsroom.com/Ghana
The post Staff facing dismissal being trained to offer other services – Consolidated Bank appeared first on Citi Newsroom.
Read Full Story
Facebook
Twitter
Pinterest
Instagram
Google+
YouTube
LinkedIn
RSS