28.2 C
Accra
Friday, July 5, 2024
BusinessLabour Ministry intervenes in layoffs at Consolidated Bank

Date:

Labour Ministry intervenes in layoffs at Consolidated Bank

spot_img

The Employment and Labour Relations Minister, Ignatius Baffour Awuah has stated that he will by the end of the week meet with stakeholders and workers of the Consolidated Bank alongside some labour unions to address their concerns.

Among other things, the meeting would seek to deliberate on labour plans for the consolidated bank and what would be factored in case labour restructuring was necessary.

- Advertisement -

Read: Exit plan for Consolidated Bank staff

Some reports suggest that the consolidated bank will lay off 1,700 workers out of the 3,700 staff that it assumed from the five banks in order to cut down on cost in managing 191 branches of the bank.

- Advertisement -

However, about seven hundred workers of defunct Beige bank have been asked to go home by the end of this week.

In an interview with Citi Business News, Ignatius Baffour Awuah said it is critical he meets with the stakeholders in order to in order to address the concerns of all those involved.

- Advertisement -

“Before the end of the week, I am going to meet stakeholders including some of the workers of the Consolidated Bank and the Bank of Ghana as well as the various labour unions,”he stated.

Read: Consolidated Bank to lay off 1700 staff by Sept

He explained that although the law permits for employers to undertake redundancy exercises, due process needed to be followed.

“The laws of Ghana do allow employers to do away with workers but then there are conditions that ought to be met and my duty is to get firsthand information as to what the labour plans are for the Consolidated Bank and if there is a need for some kind of labour restructuring that is going to be done I will want to exactly what will go into that”.

https://www.facebook.com/theindependentnewspaper/videos/1648970005225743/

 

https://www.facebook.com/theindependentnewspaper/videos/1648972265225517/

Source: citibusinessnews.com

Latest stories

2025 AFCON Qualifiers: Sudan FA announces change in venue for Ghana game

A Sudan Football Association official, Badrelin Ibrahim, has announced...

Uncle Ebo Whyte’s new play ‘Takeover’ shows at National Theatre today

Renowned Ghanaian playwright Uncle Ebo Whyte is set to...

I was expecting a female as Bawumia’s running mate – Naa Torshie

Former Deputy Minister of Foreign Affairs, Irene Naa Torshie...

I’ve never dated since my break up in 2008 – Nigeria’s Folarin Falana

Folarin Falana, better known by his stage name 'FalzTheBhadGuy,'...

Folarin Falana has been single for the past 15 years

Folarin Falana, widely known as 'FalzTheBhadGuy,' has revealed that...

Ghana recorded 610 cases of missing persons from 2021-2023 – Report

A recent report by a non-profit organization, Missing Ghana,...

Related stories

World Bank supports COCOBOD’s cocoa rehabilitation with $100m

The Ghana Cocoa Board (COCOBOD) has successfully obtained a...

GIPC CEO justifies decision to scrap capital requirements for foreign businesses

Chief Executive of the Ghana Investment Promotion Centre (GIPC),Yofi...

Labour Bank: TUC to set-up bank to support its members

Trade Union Congress (TUC) has announced its intention to...

Implement sustainable revenue measures to restore macroeconomic stability – Gov’t told

Policymakers and academics have emphasized the urgent need for...

Ghana’s exports to EU countries surged 200 million euros in 2023

Ghana's trade with the European Union (EU) showed promising...

The term of BoG Governor must overlap that of the President to ensure continuity – IEA

The Institute of Economic Affairs (IEA) is urging substantial...

Ghana is rapidly leading in adoption of cryptocurrency – Report

The largest cryptocurrency exchange platform globally, Binance, published findings...