ADB has sacked 15 of its management staff in what it says ‘is as result of its new organizational structure’.
[contextly_sidebar id=”BonpInFDBmOI8XjmsCbojRc037mKIcbB”]The 15 workers Citi Business News can confirm were handed their dismissal letters this morning.
Citi Business News last month reported of moves by the bank to sack some 100 workers who engaged in a sit down strike.
The workers under the instruction of the Professional and Managerial Staff Union and the Local Union of the bank on May 28th this year embarked on a sit down strike to press home their demand for the resignation of the bank’s Board members and the Managing Director, Stephen Kpordzih.
A memo cited by Citi Business News today November 11th, 2015 and signed by the bank’s Managing Director Stephen Kpordzih and Executive Head of Human Resource Akwelley A. Bulley to the bank’s Remunerations Committee said the services of the 15 staff members were no longer needed by the bank as ‘their roles have fallen away’ and so needed to be sacked.
The dismissal of the workers will cost ADB close to 4million cedis as the bank will have to pay the workers some 3,989,199.00 in severance packages.
Crucial departments of the bank have been affected by the dismisals including marketing, treasury, retail banking and operations.
Citi Business News confirm the specific positions affected included one executive director, head of marketing, chief risk officer, risk manger, head asset finance, asset and liability manager, manager domestic clearing, executive head finance and planning among others.