2,000 Consolidated Bank Staff Going

Bright Wereko-Brobbey

The Employment Ministry has confirmed the planned sacking of over 2,000 workers of Consolidated Bank Ghana Limited.

Deputy Employment Minister, Bright Wereko-Brobbey, who gave the confirmation on Monday, said that the Consolidated Bank Ghana Limited would lay off staff after it completes its rationalisation process.

However, he said the retrenched workers could also re-apply to be considered for new roles at the bank.

“We are looking at numbers in the region of 2,985 staff to be retrenched, and they have asked all these people to apply and then some of them will have employment. So if people will lose jobs at all, it will be in the region of, let’s say, about 2,000 or so,” he said.

He urged workers affected by the retrenchment exercise to take advantage of the bank’s decision to consider them for re-engagement “and do as expected of them and then compete in the labour market in terms of the banking sector.”

Management of Consolidated Bank, established to take over five defunct indigenous banks, told government and Labour Unions after an emergency meeting held on Monday, September 10 that it would retain only a sizeable number of its staff.

The Bank of Ghana (BoG) announced the creation of the Consolidated Bank Gh. Ltd in August to take over some struggling banks in the country, namely Sovereign Bank, Royal Bank, Beige Capital, Construction Bank and uniBank.

The five financial institutions faced severe liquidity challenges and breached banking regulations, according to the Bank of Ghana.