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Ghanaian Financial Sector Banks to undertake massive layoffs

With the Ghanaian banking sector experiencing shrinking revenue owing to increasing rates of loan-defaults, banks operating in the country are preparing to layoff a considerable amounts of workers.

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Banking Hall

With the Ghanaian banking sector experiencing shrinking revenue owing to increasing rates of loan-defaults, banks operating in the country are preparing to layoff a considerable amounts of workers.

READ MORE: One month after former GCB MD resigned, new one yet to be named

Presently, there are seven tier-one banks according to the PWC 2014 Ghana Banking Survey. They are  Ecobank Ghana, GCB, Stanchart, Stanbic, Barclays, Zenith and Fidelity Bank.

And the Finder reports that 150 workers from each of the two banks will be affected.

With regard to the indigenous bank, Business Finder further learnt that some staff members are anxious to accept the retrenchment offer since the package is expected to be good.

Already, some banks have laid off some workers, mainly contract staff in order to lessen the effect of the economic hardship on their businesses.

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