Minority fights for settlement of defunct UT, Capital banks’ staff

The minority in parliament has said that authorities must ensure that a significant number of workers of the UT and Capital banks are employed by GCB Bank Limited.

GCB Bank Limited on Monday, 14 August 2017, took over transfers of all deposits and selected assets of UT Bank Ltd and Capital Bank Ltd after a purchase agreement as the two banks were struggling to operate financially.

The two banks have a combined staff of over 1000 and Ranking Member of the Finance Committee of Parliament, Cassiel Ato Forson, who addressed a press conference on Tuesday, August 15, insists that government must ensure fair treatment of the workforce.

“We are concerned at this stage and we urge the state to make sure that inasmuch as GCB will be concerned about the workforce whether they can employ all of them or not, I think they should put a human face to it that some sizable number of staff maybe retained,” he said, emphasizing, “I’m more concerned about the junior staff and middle level staff and they need to be protected in any case.”

Additionally, he raised the issue of payment of entitlements to staff who may not be employed, explaining that it was normal practice for firms who purchase other entities to assume responsibility and pay entitlements of redundant workers hence the regulating body and stakeholders must ensure that the workers are duly compensated.

He added that the minority was, “Looking into it and at the right time we will come out on the matter of negotiations and the payment of their entitlements.”

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