The management of GCB Bank should thread cautiously in any plan to lay off workers after the takeover of UT and Capital banks, Yiadom Boakye Amponsah, a Labour Expert, has said.
According to him, any retrenchment exercise without a well thought-through plan will further aggravate the unemployment canker in the country, a situation that requires the management of GCB Bank to exercise restraint in laying off workers.
GCB Bank has taken over UT Bank Ltd and Capital Bank Ltd as the two banks were struggling to operate financially.
A statement issued by the Bank of Ghana on Monday, August 14 said: “The Bank of Ghana has approved a Purchase and Assumption transaction with GCB Bank Limited that transfers of all deposits and selected assets of UT Bank Ltd and Capital Bank Ltd to GCB Bank Ltd. The Bank of Ghana has revoked the licenses of UT Bank Ltd and Capital Bank Ltd. This action has become necessary due to severe impalement of their capital. The remaining assets and liabilities will be realised and settled respectively through a receivership process to be undertaken by Messers Vish Ashiagbor and Eric Nana Nipah of PricewaterhouseCoopers.
“The main offices and braches of UT Bank and Capital Bank will be under the control of GCB Bank and will be opened at 1 PM today for normal business transactions.”
Speaking in relation to this matter in an interview with Chief Jerry Forson, host of Ghana Yensom on Accra 100.5FM on Tuesday August 15, Mr Amponsah said: “I expect that at this stage a lot of reviews and studies should be done before considering any layoff because there are a lot of situations where the banks throw people out and then they turn around and go and hire people through consultancy companies as contractors.
“But this is when you have your own organic numbers and so you don’t throw them out, take your time and make sure you take the right decisions.”
He added: “Even if you want to lay off workers you can do it in such a way that the people will be rehabilitated as they exit so that it wouldn’t become a problem of labour. There are people who may be able to set up their own business after a possible lay off because of the packages that they carry along and so it can be done in such a way that it won’t hurt.”
Source: Ghana/AccraFM.com
