The Consolidated Bank Ghana Limited has confirmed that it has had to “rightsize” its staff in order to achieve their organisational goals.
In a statement on media reports of mass dismissals, CBG said: “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”.
The company is believed to be sacking close to 2000 of its staff.
Below are details of the statement
CBG ADDRESSES MEDIA REPORTS ABOUT HUMAN CAPITAL CHANGES
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.
Source: Ghana/Starrfmonline.com/103.5FM
