adb lays off 14 management staff

The agricultural development bank (adb), as part of plans to review its operations, has implemented a new management organogram that has led to the merger and re-alignment of certain managerial positions in the bank.

As a result of these changes, the initial phase of the restructuring has seen the displacement of 14) Management staff who have been exited as per the policy of the bank and within the acceptable labour laws of the country.

Affected workers have been compensated with packages.

A statement issued by the bank on Wednesday said the restructuring was based on a thorough evaluation of the company’s structure and strategic objectives.

According to the Management of the bank, the decision was taken earlier this year at a Management retreat in Akosombo involving  stakeholders and was given approval by the Board for implementation, since it is aimed at ensuring growth, strength and sustainability of the bank moving forward."

“We are in a very competitive market and there is the need to re-align our operations and strategic objectives to remain on top as one of the best performing indigenous banks in the country.”

In another development, some staff of the bank who engaged in various acts of operational indiscipline in the discharge of their duties have been dismissed for contravening the bank’s policies and procedures.

The Management of the bank wishes to assure stakeholders, customers and the public of its commitment towards working to maintain high disciplined standards and efficiency to ensure that the bank continues to serve the citizenry," the statement said.