Unity Bank Retires 500 Workers

Unity Bank Plc Monday said about 500 members of its staff will proceed on retirement, in line with a programme aimed at reinvigorating its workforce.


The bank also said that about 389 members of staff in various departments were promoted while salary increments by way of notches were also given to another 1,855.


A statement from the bank explained that the move was aimed at raising productivity and competitive position in the industry. “With the implementation of the programme, the bank has announced staff promotions, retirements and will embark on new recruitments to fill vacancies,” it said.


The statement also revealed that while a Deputy General Manager was promoted General Manager, two others Deputy General Manager and five others to the position of Assistant General Manager.


It explained further: “Three members of staff were elevated to the position of Principal Manager, nine to Senior Manager Position, six to Manager status, while those promoted to the ranks of Deputy Manager and Assistant Manager altogether number 54. Other staff in the rank of Senior Banking Officer, Banking Officer, Assistant Banking Officer and Executives also benefitted from the promotion exercise.


“Of the number proceeding on retirement one each are in the rank of General Manager and Deputy General Manager and an Assistant General Manager while others are of various categories In carrying out the retirement, the bank worked in co-operation with all the stakeholders including the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) to ensure industrial harmony,” it added.


Unity Bank also stated that the affected workers would be paid their terminal benefits, gratuity, and other entitlements.


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