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The management of the National Investment Bank (NIB) has announced that it has concluded negotiations with the unionised staff of the bank for the commencement of a voluntary redundancy programme.
According to the management, in a handshake or ex gratia in appreciation of the services, GH¢4,000.00 shall be paid across the board to each affected staff.
The management in a notice to all affected members of staff said three and half months’ salary for each completed year of service and pro rata for the affected staff will be paid as redundancy pay.
With this notice, management has officially opened for applications from interested staff from 14 December 2022 to midnight Tuesday 20 December 2022 to apply for voluntary redundancy.
Below is the notice to the affected staff:
Dear All,
I am directed to announce to you that Management has concluded negotiations with the Unions on the upcoming voluntary redundancy programme with agreed terms as follows:
1.Redundancy Pay – Three and half (3.5) months’ salary for each completed year of service and pro rata for the affected staff.
2.Notice – One (1) month salary in lieu of notice to each affected staff.
3.Annual Leave Days – All outstanding leave days approved by Management up to the end of the year 2022 be commuted to cash and paid.
4.Long Service Award – Outstanding Long Service Award shall be paid.
Employees with outstanding long service award as at December 31, 2022 shall be paid, if any.
5.Handshake/Ex gratia – In appreciation of the services of affected staff, Management shall pay GH¢4,000.00 across the board to each affected staff.
6. Repatriation/Transportation – Each affected staff shall be paid GH¢3,000.00 to cater for their transportation needs.
7. Medical – All affected staff shall be given GH¢8,000.00 each to cater for their medical needs.
8.Provident Fund – The balance of Account A & B of the Provident Fund with interest, shall be released to all affected staff.
9. Loans – To reduce the impact of the redundancy exercise on staff, 5% of all outstanding loan balances as at the date of the MOU shall be waived.
10.Liabilities – The Bank shall set off against each staffs’ total entitlement all outstanding liabilities (all outstanding loans and other liabilities) prior to the payment.
11.Cut-off Date – 31st December, 2022
12. Mode of Payment – Outright 13.Mode of Exit – Voluntary
By this mail, Management has officially opened for application from interested staff from today 14th December, 2022 to midnight Tuesday 20th December, 2022.
All expression of such interest must be sent to head.hrm@nib-ghana.com strictly. Please note that application through any other means will not be counted as received by the Bank.
Kindly indicate in your email to head.hrm@nib-ghana.com the following details: 1. Staff Number
2. Name
3. Department/Unit/Branch
4. Express indication of your interest to be considered for the voluntary redundancy Please also note that Management reserves the right to accept or decline any application.
Kind regards,
