Months after its financial year ending for 2020, UBA-Ghana has hinted that it can no longer afford the bonuses /salary of its employees, hence, a need to sack some workers and maximize bonuses.
‘Please be informed that management of the Bank has terminated your appointment effective September10, 2020, in accordance with UBA-Ghana Handbook Section 9.4.1 you will be paid a one-month basic salary in lieu of notice’.
‘Your accrued terminal benefits will in the first instance be used to defray any outstanding liabilities that you may have incurred to the Bank’. A termination letter jointly signed by the MD/CEO, Olalekan Balogun, and Head of Human Resources, Jocelyn Emma Ackon.
The Hawk News learned that UBA-Ghana no longer intends to place some of its workers on its payroll because the lender is expected to start a skeletal operation.
Some of the affected workers told The Hawk that the Bank has employed unorthodox means to sack them.
‘The Human Resources Manager invited me through mail to meet her. I was then told to resign voluntarily, or the Bank terminates my appointment’.
The checks of The Hawk revealed that all those who did not accept the proposal by the HR Department of the Bank were instantly handed termination letters without any reason.
Investigations by The Hawk indicated that over fifteen workers have been sacked, seventy-five more workers are penciled for the sack. Although the banking institution has not come with a reason for its action, an insider said the staff is being relieved of their duties to allow management.
The plan to downsize and cut salary makes UBA-Ghana the first top tier lender in Ghana to take this path amidst the coronavirus pandemic. While other industries had been affected, the banking industry in Ghana had been weathering the storm.
Reports said that the sack cut across the top, middle and low cadres. The mass sack also created apprehension and fears among the remaining workers.