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Business News of Tuesday, 15 August 2017

Source: citifmonline.com

UT, Capital Banks staff to undergo skills assessment

GCB Bank has emphasized that it will undertake a skills assessment to determine the necessary action regarding employment following the takeover of UT Bank and Capital bank.

The Managing Director of GCB Bank, Ray Sowah explains that the move will provide the necessary steps as to which staff should be retained or laid off.

He made the remarks when he addressed the press on proceedings of the takeover on Tuesday.

“We shall conduct a skills assessment as part of integration process we need to know that we can bring everyone onboard or not. This is an expanded institution and as we go through the integration we should know what jobs to close down and what jobs to retain,” he remarked.

Mr. Sowah added, “I am intimated when I spoke about the revocation of the licenses of the two institutions that from that moment on, the employment with the previous employers ceased all claims that will have to go to the receiver.”

The takeover of the two banks by GCB Bank has led to many concerns over the fate of the staff of the affected banks.

The issue is considered critical due to the staff strength of both workers estimated at one thousand.

Information available to Citi Business News indicates that all staff of the two acquired banks will undergo a six-month probation.

Citi Business News also understands following the probation at least a quarter of workers of both banks will be absorbed while the remaining are likely to lose their jobs.

Sources familiar with the development say top level management of both banks especially those found guilty of causing the collapse of the two banks will be the hardest hit.

But Mr. Ray Sowah maintains that the ultimate decision will have to be determined after due process is taken.

“What we can speak to is the fact that they are working with us for the moment; they are new employees of our institution and therefore we shall look to see whether we can keep them or not. As to what happens in terms of the resolution or the contract that we need to give them, is another matter that we need to handle internally.”