Consolidated Bank assures of measures to reduce job-losses’ impact

The Consolidated Bank Ghana Ltd. (CBG) has moved to quell concerns circulating in the media about massive lay-offs, saying some of the affected staff will provide outsourced services to the bank.

“A core part of this integration and rationalisation exercise is career training programmes for all staff who may be exited as a result. CBG is also finalising a plan for affected staff to transition to other economic models which will enable them to provide essential outsourced services for the bank where appropriate,” the bank said in a press release.

“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,” a statement signed by its CEO, Daniel Wilson Addo, noted.

It is widely reported that more than 1,700 staff of the defunct banks are expected to lose their jobs. This comes after a letter from management of CBG told staff they would only be guaranteed employment for 60 days, after which they would be assessed to determine whether they kept their jobs or lost them. Some 700 mobile bankers of the erstwhile BEIGE Bank have, for example, already been relieved of their jobs.

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“The purpose of this letter is to inform you that you will be working with the new bank for a period of 60 days for certain, during which time it will be possible for your employment status to be assessed.”

The letter added that based on the assessment, “A determination will be made as to whether you will continue to be in employment with the Consolidated Bank Ghana Limited. Kindly be reminded that you will still operate from your current workplace”, said the letter signed by CEO, Daniel Addo.

While admitting there will be a number of job losses following the consolidation, he said the bank will put measures in place to ensure the move does not impose undue hardship on staff.

“The Management of Consolidated Bank Ghana Limited (CBG) have 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 banks.

“CBG informs the general public that it has established an integration roadmap with the objective of rightsizing the branch network and rationalising headcount, among others. While this may involve some reduction in headcount, management is taking steps to ensure this does not impose undue hardship on its staff,” he said.

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