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Collapsed Banks Labour unions, KPMG decide exit pay for Consolidated Bank staff

Aside from deciding on the severance package of staff that will be fired this meeting was also to reduce any apprehension among the remaining staff.

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Minister of Employment, Mr Ignatius Baffour Awuah play

Minister of Employment, Mr Ignatius Baffour Awuah

The Ministry of Employment and Labour Relations has met with other stakeholders to address issues affecting the staff of the Consolidated Bank.

At the meeting were officials of the Bank of Ghana, the Receiver for the Consolidated Bank, KPMG, the Managing Director of Consolidated Bank Ghana Limited as well as representatives of labour unions that is, the Secretary-General of TUC and the General Secretary of the Industrial and Commercial Workers’ Union.

Aside from deciding on the severance package of staff that will be fired this meeting was also to reduce any apprehension among the remaining staff.

READ ALSO: SEC ask Menzgold to 'shut down' illegal operations

At the meeting, the stakeholders discussed the process of rationalization and integration of the Consolidated Bank Ghana limited.

After the creation of the Consolidated Bank, the staff of the 5 defunct banks who are currently working for CBG have been agitated. The staff, both existing and laid off are demanding their exit packages.

The employees are said not to be unionized which has affected negotiations with the Receiver.

After the meeting, a statement from the Employment Ministry said that the Consolidated bank would maintain a sizable number of workers of the defunct banks.

READ ALSO: Ghanaians troop to Menzgold for deposits after SEC letter leaks

“That CBG as part of its integration and rationalization would maintain a sizable number of workers of the defunct banks.”

It added, “that there will be further engagement between the Receiver and the Unions to collectively address the issues to be tabled for discussions.”

In a related development, the government has said that it will monitor outcomes of the engagement between the Receiver and the Unions to ensure amicable resolutions of the issues affecting the workers.

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