UMB calls for voluntary resignations

Management of Universal Merchant Bank (UMB) has asked employees who are no more interested in working with the bank to tender their resignation.

Management of the bank was said to have served employees with letters recently, requesting the interested ones to resign voluntarily before 22nd September, 2014.

The move forms part of measures by management to cut down the bank’s workforce. Universal Merchant Bank, since its takeover by Fortis last year, has sought to restructure the financial institution and this possibly could entail the closure of some units in the bank, BUSINESS GUIDE has gathered.

About eighty employees are expected to be affected by the restructuring exercise and there are reports that tension is brewing among the workers as a result of the unpalatable news.

The Union of Industry, Commerce and Finance Workers Union (UNICOF) has reacted to the not so transparent arrangement. Speaking to journalists in Accra at the weekend, John Esiape, General Secretary of UNICOF, noted that the deal was a bit unclear.

He therefore called on management of UMB to offer the full details of the package to workers who would opt out of the bank.

“It is one thing to float a package and another to implement it. The implementation can create some problems and disputes.

“Because we value the relationship and the fact that there must be no acrimony when it comes to such a voluntary exercise, we thought it wise that we should engage management to appreciate how implementation will be done and even make some inputs so that both parties will be clear on the way forward,” he told Citi News in Accra.