National Investment Bank lays off workers in voluntary redundancy exercise
The National Investment Bank (NIB) has laid off some of its staff through a voluntary retrenchment exercise.
The Managing Director of the bank, Mr Samuel Sarpong, on July 2, 2021, announced to the staff that NIB had concluded negotiations with the unions on the redundancy package and gave them a one-week window for interested staff to apply for it between 17 December 2021 and 24 December 2021.
All the interested staff were duly paid and have exited the company since 31 December 2021.
The redundancy pay, according to Graphic.com.gh, was a pro-rated three-and-a-half months' salary for each completed year of service.
Additionally, each affected staff got a one-month salary in lieu of notice.
Also, all their outstanding leave days were commuted to cash and duly paid.
Furthermore, employees who had outstanding long service awards as of December 31, 2021, have been sorted out.
The management also paid GHS4,000 to each affected staff across the board in appreciation of their service.
Each of them was also given GHS2,000 for transportation.
Apart from the above payments, the affected staff will receive either two years of medical insurance cover or GHS6,000 in lieu for that purpose.
They will also enjoy a 5 per cent waiver on all outstanding loan balances.
Source: classfmonline.com
Trending News
‘I can only thank you for your dumsor patience’ – Akufo-Addo to Ghanaians
14:50Ashanti NDC condemns renaming of Ameri Power Plant
16:55Ignore false NPP propaganda; I’ve never benefited from government scholarship - Joyce Bawah insists
18:25Digitalisation has cut demand for sex from women for public services – Bawumia
11:17Farouk Aliu Mahama embarks on ‘Thank You Tour’ in Yendi
16:06Tema Manhean: Two dead in clash between youth and Navy
16:04Accra wraps up successful year as 2023 World Book Capital; prepares to handover title to Strasbourg
10:54Ex-CEO of MASLOC sentenced to 10 years in prison with hard labour
15:28Ejisu: Kwabena Boateng elected NPP Parliamentary candidate
15:52Scores of Kumasi residents demonstrate over dumsor
10:49