Modern Ghana logo

FEATURED: Can We Blame Religion For Africa’s Economic Woes?...

17.04.2019 Business & Finance

Stanchart To Sack 600 Workers

Staff Writer
Stanchart To Sack 600 Workers

Standard Chartered Bank is preparing to sack over 600 workers in June as the bank closes three branches.

The Tudu, Westlands and Taifa branches, all in Accra, will be closed as new technology introduced by the bank makes the workers redundant.

According to sources members of staff, who had been kept in the dark for some time now, have now been informed of the decision.

The source further disclosed that the branches were being closed because management has introduced a new technology that would handle the work in a more efficient way.

Management is currently negotiating with the affected workers for compensation packages.

Some analysts are of the view that this turn of events is the result of the recent bank crisis that saw the collapse of some banks culminating into the setting up of the Consolidated Bank Of Ghana last year to salvage customers’ savings.

The Bank of Ghana has however said savings is rising as confidence in the sector took a massive hit after in the wake of the crisis.

Source: Ghana/