A Deputy Minister of Employment, Bright Wireku-Brobbey has revealed that nearly 2,000 workers of the newly formed Consolidated bank will be laid off  as a result of the company’s restructuring policy.

According to the minister, the management of the bank, in a meeting with the ministry yesterday, 10th September, 2018 resolved that, offloading such significant number of its staff has become necessary in ensuring the efficient and effective running of the bank.

Speaking on Anopa Kasapa with Kweku Owusu Adjei, the minister said “as at now, no worker of the defunct banks has lost their job. However, at the end of the two month scheduled, some of them will surely be affected and will be asked to go home.”

He added: “For now, the new Consolidated Bank is still recruiting it staff. They told us their staff strength, after combining all the affected banks stood at 2,985 and out of this number, only 1000 of them would be asked to continue work with the Consolidated Bank”.

The affected workers comprise of tellers as well as field service operators who were responsible for the collection of deposits of majority of Beige bank’s customers who are in the informal sector.

Mr. Wireku-Brobbey said the management of the bank is putting in place measures to ensure that those affected are not severely distressed financially.

The Bank of Ghana earlier in August 2018 revoked the licences of five struggling banks and merged them into one and named it Consolidated Bank Ghana limited.

The affected banks included uniBank, Sovereign Bank, Construction Bank, Royal Bank, and Beige Bank.

The Central Bank explained that some of the affected banks obtained their licenses using dubious means and had non-existent capital adding that whereas some breached cash reserve requirement, others had their shareholders engaging in supposed dubious transactions.

By: Alex Semordzi