ICU Goes To The Rescue Of Staff Of Defunct Banks

The staff of the five defunct banks now with Consolidated Bank Ghana has called on the Industrial and Commercial Workers Union (ICU) to help negotiate exit package on their behalf.

This follows a decision by the new employer to begin a job assessment for 60 days to determine the fate of these staff.

Speaking to JoyBusiness, General Secretary of the ICU, Solomon Kotei disclosed that the Union has sent a request letter to the Consolidated Bank and receivers - auditing firm KPMG.

He said, "We have seen that there will be massive layoffs because the bank will have more branches at the same location and some have to be closed.

As a union, what we are doing is to come onboard with our negotiation power to be behind these staff because we have members who are also going to be affected.”

Mr Kotei said, “We have written to the bank and the receiver requesting to be on the negotiation table whenever the official assessment begins".

He added “As the governor said, there is not going to be much negative impact so we're hoping it stays so.

A letter sent to the about-3,700 staff of the defunct banks and signed by the CEO Daniel Addo, said: “The purpose of this letter is to inform you that you will be working with the new bank for a period of 60 days for certain, during which time it will be possible for your employment status to be assessed”.

The letter added that based on the assessment, “A determination will be made as to whether you will continue to be in employment with the Consolidated Bank Ghana Limited. Kindly be reminded that you will still operate from your current workplace”.

The central bank on August 1 announced the revocation of universal banking license from five banks and thus created the Consolidated Bank to take over selected assets and liabilities of the five institutions.

The banks are the uniBank, Construction, Royal, BEIGE, and Sovereign Banks.