Business News of Sunday, 30 September 2018
Consolidated Bank Ghana Limited (CBG) has offered a six-month contract to the staff of all the five collapsed local banks which were put together to form the all-new state-owned CBG.
“During this period, we will continue to assess our business needs and to take action to rationalise staff count as required to fit our operating model,” a memo to staff of the bank signed by Managing Director of CBG, Daniel W. Addo, which was dated 27 September 2018, stated.
CBG was formed on 1 August 2018 after assuming the branches and staff of uniBank, The Beige Bank, The Royal Bank, Sovereign Bank and The Construction Bank.
CBG said they had to extend the two-month probationary contracts to each staff after the fusion of the banks to ensure business continuity.
During the two-month period, management of CBG said they commenced processes to determine the future business operating model, identify staff with the right skills and competencies to execute the business model and the logistics involved in right-sizing the branch network.
“Management has, therefore, decided to give all staff of CBG who participated and successfully passed the initial assessment by Ernst & Young, a six-month probationary contract of employment on the approved CBG salary scale with effect from 1 October 2018. You will each receive individual contracts stating the bank’s Terms and Conditions during the probationary period,” the memo added.
The notice added that: “This period, we believe, will give staff the opportunity to showcase their skills and competencies and to give management the opportunity to fully assess and determine each staff’s suitability and fit for a role in CBG”.