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Consolidated Bank staff to be laid off to receive training for ‘other’ services

Consolidated Bank

Management of the newly established Consolidated Bank has assured staff who will be affected by its rationalization and integration programme of capacity building in making them resourceful for other sectors of the economy.

Some will be taken through career training to “enable them provide essential outsourced services to the bank where appropriate”.

There have been media reports of massive lay-offs by the Bank as a result of a restructuring process.

Confirming the process in a statement, Chief Executive Officer Daniel Wilson Addo said the exercise is to rightsize the branch network and rationalize headcount.

“Whilst this may involve some reduction in headcount, management is taking steps to ensure that this does not impose undue hardship on its staff,” Mr Addo said in the statement on Wednesday, August 29.

“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 the affected staff to transition to other economic models which will enable them provide essential outsourced services to the bank where appropriate.”

On Wednesday, August 1, the Bank of Ghana announced the establishment of Consolidated Bank Ghana Limited to take over the operations of uniBank, Royal Bank, Construction Bank, Sovereign Bank and Beige Bank.

Directors were consequently appointed for the five banks under the new bank with KPMG’s Nii Amanor Dodoo appointed as the receiver to take control and possession of assets – not the toxic ones – and liabilities.

“CBG is an indigenous bank with a strong balance sheet, well-positioned to protect the best interest of our depositors and staff,” the statement said.

Already, some of the staff who fear losing their jobs have turned to the Industrial and Commercial Workers’ union (ICU) for help.

By Emmanuel Kwame Amoh||Ghana

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