Pulse.com.gh logo
Go


Lay-offs Fidelity Bank surprises many in massive lay-off exercise

This comes as a surprise to many in the banking sector given that the bank was adjudged Bank of the Year in the 2016 Ghana Banking Awards.

  • Published: , Refreshed:

Pulse.com.gh can confirm that Fidelity Bank has laid-off about 200 workers in an ongoing restructuring process within the bank.

This comes as a surprise to many in the banking sector given that the bank was adjudged Bank of the Year in the 2016 Ghana Banking Awards.

However, management of the bank maintain that the lay-offs had to happen due to increasing cost of operations and the need to rationalize expenditure as well as human resources.
READ MORE:Car Loans in Ghana Car loans hit 34.2% in Ghana- Bank of Ghana Reports
“We are looking at streamlining things to position us as the leading bank in Ghana,” a senior official says.

play Bank of the Year 2016

In a conversation with one of the affected staff, who agreed to speak under conditions of anonymity, he said the bank  had duly compensated staff who are being laid-off, and due procedure was followed in undertaking the exercise.

“Though we believe that the bank  is in a strong financial position,  other departments which have to do with electronic payments have not lived up to expectations, hence the lay-offs.”

Authorities of the bank have not confirmed the information though.

Fidelity bank, apart from emerging Bank of the Year in the Ghana Banking Awards 2015, were adjudged the Best in Corporate Social Responsibility and Best Trade Deal.

In September 2014, Fidelity Bank acquired ProCredit Savings and Loans Company to become the first local bank to acquire a foreign savings and loans outfit in the country.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Investment banks in Ghana Top 5 investment banks in Ghana and why you...bullet
2 Salaries In 2018 Here are the dates public workers will be paid in 2018bullet
3 Accra Shops GAME store finally arrives at West Hills Mallbullet
4 Ponzi schemes in Ghana These investments are Ponzi schemes in...bullet
5 Special Prosecutor Here’s why Martin Amidu can’t work...bullet
6 Finance Meet the 5 richest, most successful self-made women in...bullet
7 Ghana-Chinese Relations 6 reasons why the StarTimes deal is...bullet
8 How to create an NGO in Ghana How to register and start an NGObullet
9 How to create a verified PayPal account Learn how to...bullet
10 Kweku Adoboli Rogue banker denies saying Ghana is...bullet

Top Videos

1 Selorm Adadevoh MTN CEO dances Agbadzabullet
2 Plane Crash Starbow suspends operations following plane crashbullet
3 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
4 Former Capital Bank staff grills pork for survivalbullet
5 Forbes 2018 Africa's billionaires rich listbullet
6 Support Finance minister buys Kantanka carbullet
7 Money Alert Meet Africa's richest womanbullet
8 Bozoma Saint John 10 quotes from Uber top official,...bullet
9 Dr Joseph Siaw Agyepong Nobody can collapse my company –...bullet
10 New Phone Nokia’s MWC 2018 event in 7 minutesbullet

Business

X
Advertisement