The ongoing job losses in the banking sector are worrying!

LAST Monday a section of the media dropped hints that about 1,700 employees of the newly established Consolidated Bank Ghana (CBG) Limited will lose their jobs by the end of September this year.

THOSE who will lose their jobs included mobile bankers, some former employees who were transferred to CGB under a purchase and assumption (P&A) agreement sanctioned by the central bank—Bank of Ghana (BoG) on August 1, 2018.

THESE planned lay-offs, according to the media reports, are aimed at reducing the operational cost of the CBG, which is GHC60 million per month.

THOUGH in business sense it is prudent, we should not lose recognition of the fact that these job losses come with its own associated problems.

AND more particularly in a country where it has become very difficult for job seekers to get jobs, and the unemployment figures of our graduates continue to soar.

EVEN though, CBG is employing steps to get its roots firmly grounded, Today is surprised at the number of employees that are going to be dismissed.

OUR concern is premised on the fact that CBG had earlier assured the whole nation that there would be no job cuts, so far as the newly established bank is concerned.

WHAT is even more disquieting is that some staff who were earlier dismissed are yet to receive their severance package, a situation which was making life difficult for many of them.

INDEED some of the workers who have lost their jobs have made public how they are struggling to make ends meet. While some have had to improvise by venturing into petty trading others are really finding it extremely difficult to do any profitable business.

IT is in the light of the above that Today is making a passionate appeal to the CBG to speed up the severance packages of those who have been fired.  We believe the earlier such compensations are effected; the better it will help in temporarily ameliorating their plights.

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