GCB Bank To Lay-Off Over 200 Workers

Credible information available to Ghanaxtra.com indicates that the Management of GCB Bank Limited is planning to lay-off some of its staff in the coming months.

The move by management is to cut down on the 2,299 staff strength of the bank which is having huge financial ramifications on the operations of the bank.

The retrenchment exercise per sources available to this portal will affect over 200 staff of the bank.

The source reveals that the exercise forms part of the Bank’s Transformation Programme designed to re-position the bank as one of the top-performing banks in Ghana and Africa.

Already, the employees’ representatives have been fully engaged to ensure that competitive packages have been agreed upon for the affected workers.

Based on the agreement, a Memorandum of Understanding will be signed between the parties(the Management of the Bank and the Union) for onward implementation.

Meanwhile, some of the affected workers who have been notified by management have expressed their displeasure at the decision.

They reveal that management has adopted rough tactics under the guise of a restructuring exercise.

Speaking on condition of anonymity, they told this portal that they are are disappointed in the decision by management considering their years of dedicated service to the bank.

They reveal that they cannot fathom why management will opt for that alternative after all the sacrifices they have made towards the fortunes of the bank including the denial of certain conditions due them.

” We are surprised that this how management wants to repay our years of dedicated service to the bank. We are very disappointed in management”, they lamented.

In 2016, the bank undertook a Staff Rationalization Exercise which affected 195 employees.

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