Bank crisis: Management of CBG says sacked workers will be catered for
Business & Economy section is brought to you by — #1 Ghanaian online marketplace
Visit website

Bank crisis: Management of CBG says sacked workers will be catered for

- All workers laid off under the new management of the Consolidated Bank of Ghana (CBG) will now have to re-apply and enjoy other outsourcing packages

- Management of CBG says this decision to sack workers is not intentional but aimed at putting the bank back on its feet.

Management of the new Consolidated Bank of Ghana seems to be speaking their own language following the layoff of over a thousand workers.

So far, sources close to the CBG say the decision to sack these workers was part of a business rationalization programme by the new CBG to reduce its current operating cost of about GH¢60 million per month and also reduce staff numbers by a minimum of 1,700.

This is not all, YEN, has also gathered that all 190 branches of the collapsed Beige Bank will be reduced to 120 branches.

READ ALSO: Election 2020 and Mahama's unsettled decision for woman vice president

All affected workers suffering the layoff could be waiting for some good news but it looks like the response from the management of the bank is not what they wish to read about.

Below is an excerpt of the public statement:

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 takings steps to ensure that this does not impose hardship on its staff.
A core part of this integration and rationalisation excercise is career training programs for all staff ho may be exited as a aresult. CBG is also finalizing a olan for affected staff to transition to other economic models which will enable them providde essential outsourced services to the bank wherre appropriate

There are claims that the GH¢60 million is the estimated cost of salaries for all the 3,700 staff and the maintenance of all the 191 branches and outlets of the five banks that the CBG took over on August 1, this year.

The Bank of Ghana (BoG) announced the collapse of five local banks, Sovereign Bank, Construction Bank, Beige Bank, uniBank and Royal Bank.

The CBG, which is 100% state-owned, was thus formed, with the assurance that it has enough resources to do business.

READ ALSO: Mahama receives family of late Kofi Annan

On August 14, 2017, Capital Bank and UT Bank also suffered a similar fate and the BoG closed them down. GCB Bank inherited all the assets and liabilities of the two banks.

Do Ghanaians know about late Kofi Annan? | #Yencomgh

Subscribe to watch new videos

Want to be featured on Send us a message on our Facebook/Instagram pages with your stories and photos.

Source: Yen

Mailfire view pixel