In a statement released Wednesday, the government-owned bank said the managers were relieved as part of restructuring efforts.
ADB was rocked by controversy after staff of the bank led by its union leaders blocked the sale of shares of the bank and the sale of its headquarters in Accra.
Although the media battle between the management and staff has waned, there is an uneasy calm with the bank as staff fear reprisal from the top management.
Already, the bank says it has sacked some unspecificed number of staff it accuses of “operational indiscipline”.
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The Agricultural Development Bank (ADB) as part of its plans to review its operations based on a thorough evaluation of the company’s structure and strategic objectives has implemented a new management organogram which has led to the merger and re-alignment of certain managerial positions in the bank.
As a result of these changes the initial phase has seen the displacement of fourteen (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.
According to the Management of the bank, the decision was taken earlier this year at a Management retreat in Akosombo involving all various 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.”
Also in another development some staff of the bank who engaged in various acts of operational indiscipline in the discharge of their duties has been dismissed for acts that are in contravention of the Bank’s policies and procedures.
The Management of the bank wishes to assure all its stakeholders, customers and general public of its commitment towards working to maintain high disciplined standards and efficiency to ensure that the bank continues to serve the Ghanaian public