Fidelity Bank has laid off 190 of its workers, it has been reported.
Accra-based Starr FM reported on Thursday, the bank got rid of the workers as part of efforts to reduce overhead costs.
The report said the indigenous Ghanaian bank is undertaking some form of “rationalisation and restructuring” to make it more competitive.
The affected workers have been adequately compensated, the report said.
The news comes barely a month after another indigenous Ghanaian bank, GCB Bank, laid off 270 workers as part of the bank’s plan to restructure, following declining profits.
The layoff followed successful negotiations with representatives of the local workers’ union of the bank on the appropriate exit package for the affected workers.